Currently providing jobs for 10,000 people in the country, this number could easily double from new investments in the pipeline .

The Forrest Group was originally founded in 1922 as a transport company in Katanga province. By 1933 it had started extracting minerals, in particular copper, manganese and gold, and in the early 50s it embarked on several civil engineering projects such as Kolwezi airport. It is one of a rare breed of companies that continues to create employment in the country. Directly or indirectly, George Forrest International S.A. provides jobs for around 10,000 people in the country and new investments in the pipeline could easily double this figure. The company’s activities in the DRC are still mainly centered in Katanga.

In 1986, George Forrest took control of the company. “I came back to mining, producing five million cubic meters a year until the political situation forced us to stop. It was not until 1994-1995 that we were able to sign our first contract with state company Gecamines to start extracting cobalt from the Kosombo quarry,” says Mr. Forrest. Since the new mining code was introduced and the transitional government was established, the company has continued to invest in various extractive projects.

“We work with American partner OM Group, the world’s leading cobalt firm, and Gecamines on the STL coke oven project, which exploits slagheap rejections from the Gecamines site in Lubumbashi. Today, that factory is producing 3,000 tonnes of cobalt a year.” Another joint project with China and OM Group in Kinsenda involves building a high technology $60m factory for the production of cobalt and copper salts.

GEORGE A. FORREST President of George Forrest International S.A.

“Now we are focused on the Minière Musoshi Kinsenda (MMK) project near the Zambian border, where we have invested around $42m and where we expect to extract around 50,000 tonnes of copper annually,” says the company president. In a recent transaction, Copper Resources Corporation (CRC) entered into a Memorandum of Understanding to acquire 75% of MMK. In exchange for the 75% shareholding, CRC will issue more than 18.5 million new shares so that the Forrest Group will become CRC’s largest shareholder.

“Our other development project in Kamoto represents an investment of over $300 million, which we are entering into with Canadian firm Kinross,” he continues. As well as reopening the existing underground mine the project will start a surface mine and a refinery.

“We are proud of all our projects, because each time has been a challenge. Every project requires the latest technology and expertise. In addition, every industrial project has been accompanied by a social project such as schools, hospitals and community clinics. That is part of the contract as far as we are concerned, and it is a principle we give a lot of importance to. Just as we want our schools and hospitals to be open not just to our workers but also to the rest of the population.

“Every new project involves around 700 people directly or indirectly. The investments are complicated; our strength lies in the fact that we have been working in the country for a long time. We reinvest in the DRC and have faith in its future. I see Congo as my home, which motivates me to continue. Today the context is very difficult and working becomes more of a challenge. But it is exciting, especially when you succeed. The risks are high, it is true, but they are balanced by good achievements – the fact that we are creating jobs, that I can see smiles on the faces of the employees.”

As well as mining, Forrest Group has interests in agriculture. “The country has great potential for agriculture, thanks to the extensive river network and the fertile soil. Agriculture needs to be encouraged,” states the president.

George Forrest is banking on additional investors coming to the DRC. “Big companies have a correspondingly big role to play in encouraging the country’s development. OM Group, for instance, is consolidating its position here by creating added-value produce and exporting direct marketable products,” he says.

Each industrial venture of George Forrest International S.A. has been accompanied by a social improvement project.

More investors would create more jobs and lead to increased economic activity. This in turn would translate into increased revenues for the state meaning less corruption and mismanagement. It would also result in greater re-investment in the economy. Infrastructure renewal is vital. Projects such as road reconstruction supported by the World Bank are key to improving the existing situation.

“The country is coming from years of political instability, and although much has been done to re-establish communications and infrastructure, there is still a lot to do. Most of the world’s stockpile of raw materials is to be found in Africa: a great quantity of oil, minerals and even agricultural produce. I strongly believe that there are great economic perspectives in Africa, particularly here in Congo.

“The fact that investors are here is positive, but it does depend very much on the type of investor. We need people and companies who are here to do their job properly and earn the respect of the population, not people who are looking to hit the jackpot and disappear. I want investors to keep coming, but I want them to be fully committed to the people and the country, as this is the only way to develop proper projects here,” states the firm’s chief executive.