The DRC, a global leader in copper and cobalt mining, is planning to dip its toes into the iron ore sector.

Its government has set up a company – Mine de Fer de la Grande Orientale or Mifor – to develop a high-grade iron ore deposit, reports Export Focus Africa. The proposed mine will reportedly be sited in northern DRC.

It entails an initial investment of US$28.9 billion and will include logistics infrastructure projects, such as heavy-haul rail and river transport along the Congo River to the port of Banana.

The iron ore deposit contains about 20 billion tons at an average grade of 60%.

The mine will initially produce 50 million tons a year but with further investment can be ramped up to 300 million tons.

Mines minister Louis Watum said the project has already attracted interest from institutional investors.

20 January 2026
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