The Minister of Mining of the Democratic Republic of the Congo insists that there will be no compromise on the new mining regulations

SMM, Sept. 13: the Minister of Mining of the Democratic Republic of the Congo said Wednesday that a new mining law signed in March stipulates that increases in mining royalties and taxes should not be questioned by the industry.

"No participating country, be it civil society, mining companies or governments, should attempt to challenge the provisions relating to the mining industry," Kabwelulu said.

Kabiyra subsequently addressed the meeting urging the parties to implement the new guidelines. "investors should get out of their comfort zone and not just wait for state-owned enterprises to make concessions to them," he said. " .

Companies said the new tax increases and the abolition of a 10-year tax exemption for existing projects violated previous agreements with the government and would discourage further investment. Other major mining companies currently investing in the Congo include AngloGold Ashanti, Ivanhoe Mines, China Molybdenum Industry (China Molybdenum), Zijin Mining (Zijin mining) and MMG.

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