Congo Finalizing Mining Rules After Company Concerns Ignored
- Mining companies argue new mining laws will deter investment
- Congo is world’s No. 1 source of cobalt, major copper producer
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The Democratic Republic of Congo’s Mines Ministry said it’s completing work on new regulations, as a draft document showed the government has so far ignored companies’ key concerns about the reforms.
Miners including Glencore Plc and Randgold Resources Ltd. have demanded the government dial back aspects of the legislation approved by President Joseph Kabila in March. The ministry makes no mention of any of the major changes the companies seek, according to a draft document seen by Bloomberg that was verified by a member of a commission charged with revising the mining code and by a mining-company manager.