Congo’s Government Wants 15% Stake of New Mines in Revised Code

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The Democratic Republic of Congo plans to raise its free stake in new mining projects to 15 percent from 5 percent, said Chantal Bashizi, the vice president of the commission revising the mining code.

The government has been in a dispute with companies for more than a year about changing the 2002 regulations, particularly over a proposal to increase the state’s share in new mining projects to 35 percent, Bashizi told the iPad mining conference in the capital Kinshasa yesterday. “It was among the clauses that angered operators,” she said. “In the current structure we’ve lowered it from 35 percent to 15 percent.”

Source: Bloomberg

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