Congo Mines Minister insists no compromise on new mining code
Date: Sep 13, 2018
Democratic Republic of Congo’s mines minister said on Wednesday that a new mining code signed into law in March that hikes royalties and taxes cannot be called into question.
Addressing a mining conference in the copper and cobalt-mining city of Kolwezi, Martin Kabwelulu called on industry leaders to work to implement the code as it was promulgated by President Joseph Kabila.
Major mining companies including Glencore and Randgold bitterly opposed the code, which axes tax exemptions and hikes royalties and profit taxes. They have been holding out hope it might be watered down in further negotiations.
“It is not the place of any participating party, whether civil society, mining companies or even the government to try to call into question the text governing the mining sector,” Kabwelulu said.
Kabila addressed the conference later, urging all parties to implement the new code. He also called on mining companies to explore beyond their existing concessions, most of which were state-owned before being privatised over the past two decades.
