1
Mining Weekly.com Browse Help
 
Intelligence on mining
 
 
Back

Congo miners seek concessions in new code as arbitration on hold

By:  
 
LEGISLATIVE ENVIRONMENT
Miners in the Democratic Republic of Congo are seeking concessions under the nation’s new industry code and holding off challenging it through arbitration, in the hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer. Producers including Glencore and Randgold Resources have opposed the new code that raised royalties, introduced taxes and canceled a clause that would have protected them against fiscal changes for ten years. While arbitration is still an option, they’re trying to get the government back to the negotiating table -- so far with no success: the miners submitted their counter-proposals in March but have yet to receive a response.
 
 
 
 
 

Latest content...

Register for daily alerts on news as it breaks in various key economic sectors - Click here to register