The parliament of DRC has adopted a new mining code which should boost taxes and royalties paid by mining firms operating in the country. The news which was disclosed this week-end, was relayed by many international media such as Reuters and BBC Africa.
The revision project was proposed in 2015 but its adoption process was halted in March 2016 due to various objections from mining firms which complained about the fact that it would impact the profitability of investments made in the sector. If no actual detail was given about the amendments, it appears that they are not as significant as those proposed under the initial bill.
The DRC which received major firms such as Glencore, Randgold Resources is Africa’s leading copper producer and the world’s leading cobalt producer. Its mining industry is one of its economy’s pillars.