Congo Advances $29 Billion Iron Ore and Logistics Project to Diversify Mining Sector

Congo Mines Minister Louis Watum. Image: Louis Watum Kabamba | X

The Democratic Republic of Congo—already a global heavyweight in copper and cobalt production—is seeking to significantly diversify its mining portfolio with a proposed $29 billion iron ore and logistics development in the country’s remote north.

The government has established a new project company, Mines de Fer de la Grande Orientale (MIFOR), to develop what it describes as a high-grade iron ore deposit containing an estimated 20 billion tonnes of resources at an average grade of 60%. Mines Minister Louis Watum Kabamba outlined the plan to the council of ministers, according to minutes published by the prime minister’s office.

The first phase of the project would focus on large-scale infrastructure development, including heavy-haul rail and river transport along the Congo River to the deep-water port of Banana Port on the Atlantic Ocean. This initial stage is expected to cost approximately $28.9 billion and would support production of around 50 million tonnes of iron ore a year, with potential expansion to as much as 300 million tonnes annually.

“After more than a century of mining largely centred on copper and cobalt, the MIFOR project represents a major strategic shift in the Democratic Republic of Congo’s extractive model,” Watum said, according to the meeting record.

The minister added that the project has already attracted interest from institutional investors. In response, the council of ministers approved the creation of an inter-ministerial commission to oversee and coordinate development of the initiative.

If realised, the MIFOR project would rank among Africa’s largest integrated mining and logistics developments, potentially repositioning the DRC as a major iron ore exporter while reshaping regional transport and port infrastructure.