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Report: DRC mulls more than doubling cobalt royalties
Jan 11,2018 16:54CST
industry news
Source:SMM
Democratic Republic of the Congo plans to more than double the royalties it levies on cobalt as the country sees the key ingredient in lithium-ion batteries as strategic mineral.

Democratic Republic of the Congo plans to more than double the royalties it levies on cobalt as the country sees the key ingredient in lithium-ion batteries as strategic mineral, according to a Bloomberg report.

The country’s cobalt reserves account for two thirds of global volumes.

Its minister of mines Martin Kabwelulu said that a proposal subject to parliamentary approvals looks to increase the royalties for cobalt to 5%, from 2%.

Other metals include copper may see the royalties go up to 3.5%, according to the report. 

 


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