Loading ...Congo’s Kabila signs into law new mining code
DAKAR, March 9 (Reuters) – Democratic Republic of Congo President Joseph Kabila signed into law on Friday a new mining code that raises royalties and taxes on operators, the presidency said in a statement.
International mining companies that operate in Congo, Africa’s top copper producer, have vigorously opposed the new law, although Kabila pledged this week to work with them while implementing it.
The law, passed by parliament in late January, replaces an earlier code from 2002. It raises royalties on minerals across the board and removes a clause that protected miners from changes to the fiscal and customs regime for 10 years.
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