, Columnist
Taxes Aren't the Real Problem With Congo Mining
Royalties are still low after an increase. The cost burden lies elsewhere.
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There's a strange thing about the fear going through the global mining industry after the Democratic Republic of Congo signed an order to lift royalties last week: Compared with most other countries, these levies are still relatively low.
The existing 2 percent rate on copper extraction compares with royalties five times that level in Chile and Peru, the two biggest producers.