Congo State Miner Curbs Expectations About Code Concessions

Gecamines head says decision to hike taxes, royalties final
Glencore, Randgold, other CEOs met president earlier in March

Balls of metal ore sit in a collection drum before loading into a furnace during processing at Katanga Mining Ltd.'s copper and cobalt mine in Kolwezi, Katanga province, Democratic Republic of Congo, on Wednesday, Aug. 1, 2012. Israeli billionaire Dan Gertler, whose grandfather co-founded Israel's diamond exchange in 1947, arrived in Congo in 1997 seeking rough diamonds. Since those early days, Gertler has invested in iron ore, gold, cobalt and copper as well as agriculture, oil and banking.Photographer: Simon Dawson

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By William Clowes

March 19, 2018 at 8:01 AM UTC

Updated on

March 19, 2018 at 5:02 PM UTC

This article is for subscribers only.

Miners in the Democratic Republic of Congo won’t secure substantial concessions in talks with the government about changes to the industry code, the head of the state mining company said.

The operators, including Glencore Plc and Randgold Resources Ltd., are pressing the government to row back on some of the reforms President Joseph Kabila signed into law this month. The modifications will raise taxes and other costs for miners in Congo, Africa’s top copper producer and the world’s main source of cobalt.