Democratic Republic of Congo Revives $29 Billion Minefor Project to Expand Iron Ore Production
In early 2026, the Democratic Republic of Congo (DRC) reactivated the Minefor project, aimed at developing its iron ore resources, estimated at $29 billion. The project plans to construct infrastructure and reduce dependency on copper and cobalt, enhancing global industrial partnerships. The DRC's cobalt production reached 76% of global supply in 2024, while copper grew significantly. A restrictive cobalt export regime implemented in 2025 aims to retain more value domestically. The DRC is also addressing illegal mining to stabilize its economy and attract investment.
The Democratic Republic of Congo (DRC) reactivated the Minefor project in early 2026, targeting industrial-scale development of iron ore resources worth $29 billion. Estimated reserves between 15 to 20 billion tons with over 60% purity could position the DRC as a global leader in iron production.
AI-curated by TheiaInfrastructure development is planned alongside mining expansion. Cobalt production accounted for 76% of global supply in 2024, while copper production was around 3.3 million tons. A new cobalt export regime aims to retain value domestically and promote local processing.
The DRC faces challenges from illegal mining and increased competition from Indonesia, which produced 95% more cobalt in 2024. Governance reforms in state-owned Gecamines aim to enhance regulatory coordination and increase investments in local refining.
The DRC's copper production is expected to rise significantly by 2028, supported by major projects. Efforts to formalize artisanal mining are underway, with European Union support potentially addressing logistical and energy constraints.
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