The reform of the mining code voted by the Parliament of the Democratic Republic of Congo confirms a 2% to 10% increase in royalties on strategic minerals and a tax of 50% on the “super-profits” of the mining companies, when the the extracted material climbs 25% above the price envisaged in the bank feasibility study.
Since January 2016, copper has recovered by 65% and cobalt by 150%. Increases related to battery boom and electrical wiring to charge and connect. “For many, the market for cobalt will remain in the hands of Glencore, Trafigura and CMOC, regrets Albert Yuma, president of the national company Gecamines.We want to legitimately control it, because it is our cobalt.” And 60% of world production comes from DR Congo … Mining companies dispute this reform, under an article – repealed since – granting them a grace period of ten years in case of modification of the framework of […]
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