Congo Miners Seek Code Concessions as Arbitration on Hold
- Randgold seeking reimbursement for building infrastructure
- Producers remain steadfast in their opposition to new laws
Photographer: Simon Dawson/Bloomberg
Miners in the Democratic Republic of Congo are seeking concessions under the nation’s new industry code and holding off challenging it through arbitration, in the hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer.
Producers including Glencore Plc and Randgold Resources Ltd. have opposed the new code that raised royalties, introduced taxes and canceled a clause that would have protected them against fiscal changes for 10 years. While arbitration is still an option, they’re trying to get the government back to the negotiating table -- so far with no success: the miners submitted their counter-proposals in March but have yet to receive a response.