Congo State Miner Says It Paid $263 Million in Tax Advances
- Gecamines responds to alleged accounting discrepancies
- Coalition of civil-society groups criticized miner on Friday
A sign for the state-owned mining company Gecamines, in Democratic Republic of Congo.
Photographer: Simon Dawson/Bloomberg
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The Democratic Republic of Congo’s state-owned mining company rejected allegations that there are discrepancies in its financial statements, saying it paid $263 million in tax advances over a five-year period.
Congo is the world’s biggest miner of cobalt, used in rechargeable batteries for electric vehicles, and Africa’s main copper producer. State miner Gecamines has often faced criticism for its management of revenues generated from Congo’s natural resources.