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DRC considers new law for stakes in future mining projects

June 14, 2010 - 17:09 GMT Location: London

The government of the Democratic Republic of Congo (DRC) is considering a law in which state-owned mining companies will retain a 35% stake in all future projects in the mineral-rich country

The law, which has been drawn up by the mines ministry and is awaiting government approval, will become a guideline for all future mining projects and, if it does become effective, will not be applied retrospectively, DRC officials were reported as saying by local media. Mining companies would also be required to pay 2.5% royalties on gross receipts from all...

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