https://www.engineeringnews.co.za

Kabila meeting with mining companies postponed until Wed

6th March 2018

By: Reuters

  

Font size: - +

DAKAR – Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday was postponed by a day, a government minister said.

No reason was given for the decision to delay the meeting.

"It will be tomorrow before noon," Mines Minister Martin Kabwelulu said in a text message.

Top executives from eight international mining companies - including Randgold, Glencore and China Molybdenum - were invited to the president's office on Tuesday to discuss the code revision awaiting Kabila's signature.

The code could see royalties on cobalt, a vital component in electric car batteries, increase fivefold to 10%. It would also remove a stability clause in the current law protecting miners from changes to the fiscal and customs regime for 10 years.

Congo is the world's biggest source of cobalt. Its output jumped 15.5% last year to 73 940 tonnes.

Edited by Reuters

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.587 0.647s - 156pq - 2rq
Subscribe Now