Glencore, Randgold Form Group to Challenge Congo Law Changes

Proposed overhaul of code will raise costs for miners
Investors requested meeting with president to discuss concerns

Hand written labels sit on rock ore samples to identify their gold content at the Kibali gold mine, operated by Randgold Resources Ltd., in Kibali, Democratic Republic of Congo, on Saturday, Oct. 18, 2014. Randgold and AngloGold Ashanti Ltd. gained control of the Kibali mine by acquiring Moto Goldmines Ltd. in 2009 and is forecast to produce about 600,000 ounces of gold a year.Photographer: Simon Dawson/Bloomberg

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By William Clowes and Thomas Wilson

February 19, 2018 at 12:00 AM UTC

Updated on

February 19, 2018 at 2:47 PM UTC

This article is for subscribers only.

Glencore Plc and Randgold Resources Ltd. are among major mining companies in the Democratic Republic of Congo clubbing together in a bid to stop sweeping legal reforms, claiming their interests were poorly served by the existing industry body.

In a letter sent to Congolese President Joseph Kabila on Feb. 8 and seen by Bloomberg, investors requested a meeting “to once again put forward our positions” about changes to the mining code approved by lawmakers Jan. 27.