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The Guardian - UK
The Guardian - UK
Environment
Patrick Greenfield

US firm to bid to turn DRC oil permits in Virunga park into conservation projects

United Nations Oil DRC United States Congo NGOs
A family of gorillas in Virunga national park, DRC.
A family of gorillas in Virunga national park, DRC. The oil and gas concessions up for auction include areas of critically endangered gorillas habitat. Photograph: Brent Stirton/Getty Images

A New York investment firm is to launch a $400m (£334m) bid for oil concessions in the Congo basin rainforest and Virunga national park with plans to turn them into conservation projects, the Guardian can reveal.

EQX Biome, a biodiversity fintech company, has sent an expression of interest to the Democratic Republic of the Congo (DRC) government for 27 oil exploration blocks put up for auction last July, some of which are in critical ecosystems.

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