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In a reshuffle, Congo names Kabamba, a veteran executive as Mines Minister

The government announced on Friday that the Democratic Republic of Congo has appointed former mining executive Louis Watum Kabamba to be its new mines minister, in preparation for important decisions regarding potential foreign investments and exports of cobalt.

Kinshasa has been engaged in peace negotiations in Washington and Doha, which the Trump administration hopes will attract Western investment to its vast reserves, including lithium, tin cobalt copper, and other essential minerals.

The talks are aimed at ending the fighting with M23 rebels, who have been backed by Rwanda and killed thousands of people this year.

Watum, who replaces Kizito Pakabomba, was appointed at the same time as Congo, which is the world's largest cobalt exporter, planned to review a ban on the metal's exports that went into effect in February, and then extended in June.

The government is considering whether to extend the export ban or to implement a quota-based system to control the crucial battery metal while supporting the domestic refining industry and industrialization.

Watum served as minister of mines before becoming minister of Industry and Small and Medium Enterprises.

Watum, who is known for his leadership roles at Ivanhoe Mines and Randgold's Kibali Project, Kamoa Copper SA, and Congo's Chamber of Mines, will be expected to promote investor-friendly reforms as well as demand deeper local benefits. Zack Hartwanger said, Head of Commercial for Africa at Open Mineral - a Swiss commodity trader.

"Watum has a commercial mindset and is pro-mining." Hartwanger stated that his approach would likely prioritize trade and investments over political considerations.

He's expected support the proposed quota-system, which would favor larger producers, who have greater employment potential, and also social interventions. Smaller operators will still be able to access export markets.

Watum was not available for comment Friday.

Adolph Muzito, minister of budget, and Floribert Anzuluni, minister of regional integration. The foreign, defence, and interior ministers remained unchanged. Congo Newsroom (Reporting and Writing by Maxwell Akalaare Adombila, Editing and Revision by Rob Corey-Boulet & David Holmes).

(source: Reuters)