DRC: Rangold, Other Big Miners Battle Proposed Mineral Tax in DR Congo

Feb 9, 2018 | Wachira Kigotho, Bloomberg
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Randgold Resources, Glencore Plc, and other mining companies are fighting a new mining bill in the Democratic Republic of Congo that would raise taxes and boost the government’s stake. The new code, which the country’s Parliament has approved, would increase taxes on what are known as strategic—or critical—minerals such as cobalt from 30 percent to 35 percent and raise the government’s stake in new mining projects from 5 percent to 10 percent. Lawmakers also approved a 50 percent super profits tax and raising royalties from 2 percent to 3.5 percent.