The Democratic Republic of Congo (DRC), Africa's second-largest diamond producer, is taking another step toward capturing more value from its vast mineral wealth by shifting from simply exporting rough diamonds to processing and selling them locally.
The Congolese government has signed a strategic agreement with Switzerland-based diamond and gemstone technology company ADEX Platform to establish a domestic diamond processing and marketing ecosystem, a move aimed at reducing illicit trade, increasing transparency, and creating more value within the country.
The agreement was signed by the state-owned Mining Fund for Future Generations (FOMIN) and ADEX Platform. Under the deal, the two partners will establish a joint venture known as ADEX RDC S.A., with each party holding a 50% stake, according to Reuters.
Building value at home
Rather than exporting rough stones for processing abroad, the new venture plans to establish an international-standard diamond cutting and jewellery manufacturing facility within the DRC. It will also develop a digital marketplace designed to connect Congolese diamonds directly with global buyers, reducing the number of intermediaries in the supply chain.
