The Democratic Republic of Congo’s government will soon announce which minerals are to be designated “strategic” and subject to a 10 percent royalty rate, the mines minister said.
Congo’s updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in June, introduced new taxes and hiked royalties on all metals -- including raising copper and cobalt to 3.5 percent from 2 percent and gold to 3.5 percent from 2.5 percent. The law also established the category of “strategic” minerals, to which a rate of 10 percent will apply, though the state hasn’t yet identified which metals will be affected.
