During the council of ministers on Friday July 19, 2024, the Minister in charge of Mines Kizito Pakaboma presented the progress of the negotiation of the Framework Collaboration Agreement between the Mining Fund for Generations (FOMIN), a public establishment under the Ministry of Mines and the Africa Diamonds Exchange (ADEX) platform, a Swiss company.
Staying at the time in Zurich, the Swiss capital from May 26 to June 2, 2024, the delegation from the Ministry of Mines composed of delegates from FOMIN, the Center of Expertise for Evaluation and Certification (CEEC), as well as the Technical Cell of Coordination and Mining Planning (CTCPM), had proceeded to the harmonization of views concerning the creation of the company ADEX RDC SA.
According to the report of the meeting of the last council of ministers, a new framework for collaboration between FOMIN and ADEX AG was defined, according to Kizito Pakaboma, which thus ensures an equitable distribution of margins and responsibilities.
Regarding the financing of the company ADEX RDC SA, the Swiss party will provide cutting-edge technology consisting of machines currently integrated into the value chain in Southern Africa, training of technical staff, major customers and the international electronic platform.
For its part, the Congolese side will be responsible for the supply of diamonds and colored stones, with technical support from the CEEC, infrastructure, financing and working capital.
In his speech, the Minister of Mines stressed that this agreement has the particularity of guaranteeing operators of the diamond sector, particularly mining cooperatives and traders, substantial income compared to what they earn under the current system. . He advocates in particular “local processing, job creation, taking into account community issues including fair trade requirements as well as the creation of a DRC brand through the manufacture of jewelry”.
Therefore, he requested the approval of the Government, in accordance with article 7 paragraph 2 of the Decree establishing the status, organization and operation of FOMIN, before signing the Framework Agreement in question.
It emerges from this meeting chaired by the President of the Republic Félix Tshisekedi, that the council took note, unanimously, of this information note from the Ministry in charge of Mines of the DRC.
What about the framework agreement
The framework agreement, between the CEEC and the company Adex on the creation of the mixed company in the Democratic Republic of Congo (DRC) for the export of cut diamonds, was signed on November 27, 2023 in Zurich, Switzerland.
This agreement, which is already entering its materialization phase, was at the heart of an audience granted by the Deputy Minister of Mines, Godard Motemona, to the delegation of the Swiss company Adex, led by its founder Teit Ritezau.
It is worth remembering that the creation of this joint company will make it possible to cut the diamond on site in the DRC before it is exported to end users.
According to the Deputy Minister of Mines, this agreement is in line with the vision of the President of the Republic Félix Tshisekedi, who wants the mines of the DRC to benefit the country, beyond the certain advantages to be gained from the added value created by cutting the gemstone locally.
This experience will be a first for the country in the purchase, cutting and export of Congolese diamonds so that the DRC’s ores can be produced as finished products for an economic benefit to the country.
Daniel Bawun
