DRC mine code here to stay, says minister

– Democratic Republic of Congo’s mines minister said yesterday a new mining code signed into law in March cannot be called into question.

Addressing a mining conference, Martin Kabwelulu called on industry leaders to work to implement the code as it was signed into law by President Joseph Kabila.

Major mining companies, including Glencore and Randgold, bitterly opposed the code, which axes tax exemptions and hikes royalties and profit taxes. They have been holding out hope it might be watered down in further negotiations. – Reuters

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