This paper examines the negotiation process between the Democratic Republic of Congo (DRC) and Chinese mining companies for copper-cobalt mining concessions in the context of intensifying global competition for critical minerals. Chinese companies have been expanding in the DRC, raising concerns in Washington about the security of cobalt supplies. This paper explores how Congolese elites leveraged geopolitical competition to renegotiate the contracts for two major Chinese-controlled mining projects: Sicomines and Tenke Fungurume. Drawing on Katz-Lavigne's concept of "renegotiation window", it argues that such a window opened from 2019, enabled by renewed US strategic interest in securing access to Congolese minerals and President Félix Tshisekedi's contested rise to power. Through process tracing, largely based on journalistic sources, this study reconstructs the power shift between Congolese elites, the US and Chinese companies during the renegotiations. The findings show that US support facilitated the revision of the contracts and provided Tshisekedi with a strategic opportunity to distance himself from his predecessor, Joseph Kabila. As a result, the DRC was able to secure more favourable terms while maintaining strong diplomatic ties with both China and the US. However, the concessions made by the Chinese companies have remained moderate, reflecting their significant influence over the Congolese state.