Congo drops mining code revision in face of industry pressure

February 10, 2016

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Democratic Republic of Congo has dropped plans to revise its mining code to boost government revenues, the country’s mines minister said on Wednesday, bowing to fierce industry pressure amid steep commodity price drops. The government of Africa’s leading copper producer initiated the review of the country’s 2002 mining code in 2012, but mining companies objected strenuously to proposed tax and royalty increases, which they said would chase off new investment.

Category: General