DRC Mining Industry: New reforms look to boost conditions and output

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02:39

Authorities in the Democratic Republic of Congo have announced changes in the country's mining sector, aimed at improving conditions for the final users of the country's minerals. One reform is the establishment of economic zones around the country. The announcement comes on the heels of a new mining code that raised taxes for mining firms. CGTN's Chris Ocamringa has that report.

Kabwe Banza hacks away at the land in the southwest of DR Congo searching for deposits of cobalt. The soaring demand for the mineral used for making rechargeable batteries led Banza and his peers to work in such sites on the outskirts of Kolwezi city.

The city has between 50-60 percent of the world's cobalt reserves. It's also rich in copper. Banza has been mining for over a decade.

KABWE BANZA MINER "I started working in the mines when I was 12-years-old. I went to school but failed to get a job. Mining minerals like cobalt, copper and ore have sustained my family."

According to the World Bank, about two thirds of the world's cobalt is produced in the DRC.

CHRIS OCAMRINGA KOLWEZI, DRC "Many local residents here in Kolwezi rely on mining for their livelihood. The pits that they dig in search of cobalt and other minerals are dangerous and accidents are frequent."

Foreign investors in the DRC converged on Kolwezi for a conference about improving the mining sector.

MURUGESAN NATARAJAN, OPERATIONS MANAGER THRIVENI MINING COMPANY "We went to start our exploration and we want to give job opportunities for the Congolese people to improve their lifestyle."

The conference comes 3 months after the Congolese government introduced a new mining code that increased taxes and royalties for mining firms.

While the government says the new regulation will remain, President Kabila has promised other improvements in the mining sector.

JOSEPH KABILADRC PRESIDENT "We welcome you all to this mineral conference here in Kolwezi. We will ensure that we satisfy our foreign investors selling our minerals in the international market while I'm still in office."

DRC's mining industry is the country's largest source of export income. The industry is dominated by foreign firms.

Artisanal miners like Banza who do most of the backbreaking work hope that the changes announced by the President will translate into better pay and working conditions for them. Chris Ocamringa, CGTN, Kolwezi, DRC.