Report: DRC mulls more than doubling cobalt royalties

Industry News 04:54PM Jan 11, 2018 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, 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. 

 


The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

 

 

Key Words:  Congo   cobalt   battery   new-energy vehicle 

Report: DRC mulls more than doubling cobalt royalties

Industry News 04:54PM Jan 11, 2018 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, 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. 

 


The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and SMM assumes no liability for accuracy of information contained or quoted in the article.

 

 

Key Words:  Congo   cobalt   battery   new-energy vehicle