DRC Launches Audit of $9 Billion Sicomines Mining Project, Appoints Mayer Brown

The government of the Democratic Republic of the Congo (DRC) has launched a comprehensive review of the $9 billion Sino-Congolaise des Mines (Sicomines) project, appointing international law firm Mayer Brown as part of a consortium tasked with conducting a technical and financial audit.

The review marks the latest step in the government’s effort to reassess major mining agreements and potentially renegotiate terms with Chinese partners involved in the project.

Comprehensive Audit of Major Mining Deal

The audit will cover the period 2008 to 2024, examining the performance and implementation of the Sicomines project, according to the government’s Agence de Pilotage, de Coordination et de Suivi des Conventions de Collaboration (APCSC).

The agreement for the audit was signed on 5 March in Kinshasa, the country’s capital.

Freddy Yodi Shembo signed the contract establishing a special consortium named Audit Technique et Financier – Pilotage de Coordination et de Suivi des Conventions (ATF-PCSC).

The consortium includes several international advisory firms such as:

• Rothschild & Co
• EY
• SRK Consulting
• Mayer Brown and other technical service providers
• Government Seeks Greater Transparency

The review comes amid growing scrutiny of the Sicomines agreement, which has faced criticism over whether it delivers adequate economic benefits for the Congolese state.

Félix Tshisekedi has previously raised concerns about the fairness of several resource agreements with foreign investors, including the Sicomines deal.

The project underwent partial renegotiation in 2024, but authorities are now seeking a deeper assessment of the agreement’s financial and operational outcomes.

According to the APCSC, the audit will analyse multiple aspects of the project, including:

• Mining operations and production performance
• Financial results and revenue flows
• Infrastructure development commitments
• Legal and contractual obligations
• Environmental and sustainability standards

Officials say the findings will help guide strategic recommendations to improve the project’s overall performance and governance.

A Key Copper and Cobalt Mining Project

The Sicomines operation is located near Kolwezi in southern DRC, close to the border with Zambia, within one of the world’s richest copper and cobalt regions.

The project was originally established in 2008 through a collaboration agreement between the Congolese government and a Chinese consortium led by China Railway Group.

The arrangement is widely known as a “minerals-for-infrastructure” deal, in which mining rights were granted in exchange for major infrastructure investment.

The agreement allocated:

• $3 billion for mining development
• $6 billion for public infrastructure projects

Planned infrastructure projects included roads, hospitals, sports facilities, and university buildings.

International Experts Lead the Review

Mayer Brown’s advisory team for the audit includes Olivier Mélédo, based in Paris, and Ian Coles, based in London.

Their work will support the Congolese government in evaluating the financial viability, contractual compliance, and long-term economic impact of the Sicomines project.

Growing Scrutiny of Mining Deals Across Africa

The review in the DRC reflects a broader trend across parts of Africa where governments are reassessing historic mining agreements.

For example, Burkina Faso nationalised five gold mining assets in 2025 as part of efforts to increase state control over mineral resources.

Analysts say similar reviews of mining contracts may continue as African governments seek to ensure greater national benefits from strategic minerals such as copper, cobalt, and gold.

The outcome of the Sicomines audit could therefore play an important role in shaping future mining policy and investment relations in the DRC, one of the world’s most important producers of battery metals.