Randgold Says Congo Mine-Code Change May Cut Investment
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Plans by Democratic Republic of Congo to change the nation’s mining code may reduce the flow of foreign direct investment, Randgold Resources Ltd. Chief Executive Officer Mark Bristow said.
A draft of the proposals shows the government is seeking to raise taxes and royalties from miners, cut exemptions and institute a windfall-profit tax. Congo last year surpassed Zambia as Africa’s biggest copper producer, according to CRU Group, a London-based commodities analysis company.