African Critical Minerals: The Copper Mine in the Democratic Republic of Congo, Owned by China's Zijin Mining, Receives Praise
¬ Sustainable Mining Financing: The World Economic Forum Views Rawbank's Copper Mine in the Democratic Republic of Congo as a Model
The World Economic Forum highlights the 400 million USD Kamoa-Kakula mine loan of Rawbank, considering it a model for ESG (Environmental, Social and Governance) financing of critical minerals in the Democratic Republic of Congo.
This loan requires 60% of the revenue to be repatriated domestically, complies with the standards of the International Finance Corporation (IFC), the International Council on Mining and Metals (ICMM), and the Global Industry Standard on Tailings Management (GISTM), and provides localized services through companies such as Pacific Logistics.
The loan supports the target of 600,000 tons per year at the Kamoa mine, while the World Economic Forum calls for coordinated rules to reduce investment risks and build value chains.
In a report released on August 28, 2025, the World Economic Forum highlighted a financing arrangement by Rawbank in the Democratic Republic of Congo (DRC), which serves as a model for scaling up the production of key minerals for the energy transition and meeting global environmental, social, and governance (ESG) risk standards.
The report states, "Rawbank played a leading role in financing the Kamoa-Kakula copper mine project in the Democratic Republic of Congo, helping to arrange a 400 million USD syndicated loan with partners such as Absa Bank, African Financial Corporation (AFC), and First Bank DRC. The agreement complies with international standards while integrating ESG and local requirements, including repatriating 60% of the revenue to the Democratic Republic of Congo." The document was co-written by Rawbank, the Development Bank of Southern Africa, and McKinsey & Company.
By executing this transaction - Rawbank's first structured transaction - it solidified its leading position as a bank in the Democratic Republic of Congo. The report states, "This agreement sets a precedent for other African financial institutions, which can arrange similar complex syndicated loans in the future, thereby increasing financing channels for the mining industry."
In fact, the bank ensured that the financing met the ESG (Environmental, Social and Governance) standards of the International Finance Corporation (IFC) and the International Council on Mining and Metals (ICMM), as well as the Global Industry Standard on Tailings Management (GISTM), recognized sustainable mining practices, and the laws and regulations of the Democratic Republic of Congo.
Regarding localization, the World Economic Forum report also emphasized that Rawbank actively included Congolese suppliers such as Pacific Logistics in the project. This approach complies with Article 108 of the Congolese Mining Law, which requires mineral processing within the country, ownership of shares in processing companies, and restrictions on subcontracting projects to local companies.
Ultimately, this financing helps Kamoa Copper achieve its target of producing 600,000 tons of copper annually. Kamoa Copper is a local subsidiary of a holding company owned by Canada's Ivanhoe Mines and China's Zijin Mining.
However, the World Economic Forum warned that providing financing for the sustainable development of key minerals in Southern Africa still faces significant challenges: high costs, geopolitical risks, strict regulatory requirements, and the necessity of fully implementing environmental, social, and governance (ESG) practices. The institution advocates for a coordinated strategy to align regulatory requirements, enhance investor confidence, and accelerate the development of local value chains for transition minerals.
Sources: ecofinagency
Original: www.toutiao.com/article/1842052885004291/
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