The Congolese government in January unveiled a development plan for the MIFOR iron ore project, which holds up to 20 billion tonnes of resources, but key details on its financial backers remain unclear.

The Democratic Republic of Congo’s government plans to establish a mechanism to monitor mining projects developed with China, including the planned MIFOR iron ore mine, an asset valued at $28.9 billion that is still being structured, with no financial partner or project sponsor officially identified.

Announced in January, MIFOR is described as an integrated mining project combining extraction, industrial processing infrastructure and a dedicated logistics corridor to transport output. The mine is expected to operate for 25 years, with an initial production capacity of 50 million tonnes per year, scalable to 300 million tonnes annually.

To oversee project development, Kinshasa announced the creation of an expanded interministerial commission. Months later, planned cooperation with China marks a new step. Announced as part of the signing of a memorandum of understanding between the two countries’ mining ministers last week, the initiative aims in particular to support the implementation of MIFOR.

In practical terms, the project will receive “priority support, with the mobilization of member companies of the Chinese Chamber of Commerce and the progressive deployment of large-scale industrial processing units.” The details of this approach remain unclear. Information disclosed so far is insufficient to assess the extent of Chinese involvement, even as authorities have already mentioned interest from several investors.

“The project has attracted interest from international institutional investors with recognized capabilities in structuring and financing large-scale projects, constituting a favorable signal of bankability and international credibility, without affecting the state’s sovereign decisions or creating any legal commitment at this stage,” a government note from January said.

Toward a stronger Chinese presence?

Beyond MIFOR, the memorandum suggests Beijing’s intent to strengthen its presence in Congolese mining, against a backdrop of advances by other players such as the United States. The timing is notable given Kinshasa’s stated strategy of diversifying its mining partners to reduce China’s dominance in the sector.

Already well established in key copper and cobalt supply chains, Chinese companies could contribute to the development of this emerging iron ore project. They have already demonstrated this elsewhere in Africa, as seen in the Simandou iron ore megaproject in Guinea, involving players such as Chinalco and China Baowu Steel Group.

Even so, MIFOR remains in its early stages. Its development is not yet supported by a technical feasibility study, a prerequisite for assessing a mine’s economic viability. No timeline has been announced for the start of construction.

Until these issues are clarified, MIFOR is already emerging as a strategic lever for the Congolese economy, which is dominated by copper mining. With projected cumulative revenues of more than $679 billion over its lifespan, the project is presented as delivering “substantial and wide-ranging benefits” for the state.

Aurel Sèdjro Houenou

Read More: 15/01/2026- DRC outlines $28.9bn MIFOR iron ore plan, with major unanswered questions