Skip to content
Subscriber Only

Congo Mines Minister Sees Strategic-Metals Decision ‘Very Soon’

  • Classification of metal as strategic will lead to 10% royalty
  • Cobalt, tantalum among metals that may be classified strategic
Gold Fields Ltd.'s South Deep Gold Mine
Photographer: Waldo Swiegers/Bloomberg

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.