In September 2026, Louis Watum Kabamba, Minister of Mines of the Democratic Republic of the Congo, clearly articulated the government’s goal: to attract new capital in order to launch new industrial gold mining operations. The challenge? To diversify an industry currently dominated largely by the Kibali complex.
On Friday, September 4, the minister met with a delegation from Société de Kilo-Moto (SOKIMO SA) to review the status of the Mongbwalu gold project. This project is being carried out as part of a joint venture between the Congolese state-owned company and Horizon Corporation, a mining company that also operates in Zambia and Namibia. This partnership reflects the ongoing restructuring of the Congolese gold sector, against a backdrop of rising gold prices since last year and the arrival of new investors.
Considered a former asset of AngloGold Ashanti, the Mongbwalu site has a historical estimate of 2.9 million ounces of mineral resources. Horizon Corporation intends to develop this potential by mobilizing, through its subsidiary Shari Minerals, its resources and expertise in mining development, in partnership with SOKIMO.
The two parties formalized their partnership in March 2026. According to Horizon Corporation, construction has since begun at the site, with the goal of starting production in mid-2027. However, neither the amount of the required investment, nor the future mine’s production capacity, nor the structure of the joint venture has been disclosed.
Meanwhile, DRC Gold, a mining company listed on the Canadian Securities Exchange (CSE), announced last week an agreement that could allow it to acquire a 55% stake in the Giro project. Located, like Mongbwalu, in the Kilo-Moto greenstone belt, the project contains 4.1 million ounces of mineral resources at its Kebigada deposit.
Earlier that day, on Sunday, August 30, Avanti Gold announced the launch of a fundraising campaign aimed at raising 45 million Canadian dollars (32 million USD) to finance technical studies designed to establish the initial economic indicators for a mine at its Misisi project. The property currently holds 3.11 million ounces of mineral resources and is the subject of a 42,000-meter exploration program designed to further demonstrate its potential.
At the same time, other projects are attracting attention, such as Adumbi. This project, which has a potential of 3.66 million ounces of mineral resources, is now controlled by the Chinese company Chengtun Mining, following its acquisition of Loncor Gold the project’s former operator for approximately 267 million Canadian dollars.
For the Democratic Republic of the Congo, whose mining potential remains largely tied to copper and cobalt, these developments highlight a gold industry in need of a breath of fresh air. In September 2025, Minister Kabamba stated in an interview with Bloomberg that the government aimed to conclude agreements to develop new industrial gold mines. The goal is to strengthen an industry that already contributes to export revenue with $2.28 billion generated in 2025 but that remains largely driven by the Kibali mine.
In 2025, the sector produced 28.2 metric tons of gold, of which 25.58 metric tons came from this gold complex operated by Barrick Mining, according to official data. The remainder of the production was divided among MCC Resources, which operates in Ituri Province; SOKIMO; the Chinese company Kimia Mining Investment; and artisanal mines.
The implementation of projects such as Mongbwalu or Giro for which DRC Gold aims to bring the project “into production as quickly as possible” could thus help reduce this concentration of industrial production.
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