KINSHASA- Regulations to implement Congo’s new mining code have been signed into law with no changes, advisers to the prime minister told Reuters despite objections from mining firms that have been threatening legal action.
Prime Minister Bruno Tshibala signed the regulations into law on the weekend and his adviser Patrick Mutombo Buzangu told Reuters by telephone, but did not give further details.
Prime Minister’s legal counsel Anita Lwambwa did confirm that none of the recommended changes from the mining industry were implemented.
She said, “The decree fully implements the mining code promulgated by the President of the Republic in March.”
Congo is the top copper producer and the world’s leading miner of cobalt, the element has seen an increase in demand to make batteries for electric cars.
The enacting of the new changes will likely start legal battle between Congo and major mining companies in the country, which include Glencore and Randgold.
The mining companies say that the tax hikes and removal exemptions for their pre-existing operations are a breach of their current agreements with the government.
Photo Credit- TimesLIVE
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