The Democratic Republic of Congo(DRC) has the potential to become the world’s largest copper producer through the consistent application of clear and rational mining policy, an official from Standard Bank Group has said.
Peter von Klemperer, the Head of Mining and Metals Standard Bank says that this would be a game changer for the economy, placing DRC in a position to transform into a middle-income country by 2050.
Standard Bank Group will be an exclusive Diamond Plus sponsor at the DRC Mining Week that returns to Lubumbashi from 19-21 June this year.
“DRC is just too important a jurisdiction from a resource volume and grade quality perspective for any serious player in the global mining sector to ignore. Standard Bank remains excited about the opportunities and prospects offered by this important mining investment destination and key global resources supplier,” explained Mr Klemperer.
More than 3500 international mining experts and local stakeholders from more than 50 countries are expected to attend this iconic exhibition and conference, which is celebrating 15 years of gathering the mining community in the country. Five country pavilions, from France, Germany, South Africa, the UK and Zimbabwe, are part of the exhibition.
“Standard Bank supports a large number of resources clients in the mining sector in the DRC” says Mr von Klemperer, “and DRC Mining Week provides us with an important platform to engage with clients and key stakeholders in the DRC’s resources sector. Standard Bank has been involved in the DRC for over 20 years, funding operations and managing banking for a range of clients, from established developed-world players to newer, Chinese clients.”
He continues: “Standard Bank has developed a broad client ecosystem in the DRC, including both mining and resources players as well as the wider services, supplier and support industries associated with the country’s diverse and rich resource endowment.
Beyond Standard Bank’s developed resources sector expertise, the bank’s presence and capability in the country plays a critical role in supporting all our clients’ effects, their day-to-day banking and transaction needs on the ground in the DRC.
Combined with Standard Bank’s global presence and capability, this is especially significant for large foreign investors as Standard Bank is also equipped to manage their daily transaction flow in the DRC from anywhere in the world.”
As the exclusive Diamond Plus sponsor of the 15-year anniversary of DRC Mining Week, Standard Bank’s message at the event in June will be that “from an investment funding perspective Standard Bank combines global capital reach and world-leading structuring expertise with a developed African balance sheet leveraged by a strong local presence, deep experience and insight, and developed capability within the DRC.
The unique universal banking ecosystem that Standard Bank has developed on the ground in the DRC also positions Standard Bank’s Transactional Products and Services and Global Markets teams to support client’s operational business inside the country.
This dual global and local capability unites global financial access with on-the-ground execution in a capital-importing sector dependant for earnings upon efficient local production and global export.”