Adoption of a mining code
The President of the Democratic Republic of Congo signed, on 10 March 2018, a new mining code into law. The new law will increase royalties on copper from 2% to 3.5%, on gold from 2.5% to 3.5% and could potentially increase royalties on cobalt from 2% to 10%, if deemed a "strategic substance". Additionally, a new 50% tax-rate on so-called 'super profits', defined as income realized when commodity prices rise 25% above levels in the project's bankable feasibility study, will be introduced. Other key changes include a provision that doubles the state's free share in mining projects to 10% and a reduction on the period during which contract stability is guaranteed down to five years, from 10 years stipulated in the current mining law.
Type: Entry and establishment (Ownership and control), Treatment and operation (Corporate taxation), Treatment and operation (Other)
Industry: Primary (Mining and quarrying)
- Mining Review, New DRC mining code will not alter positive outlook, Mar 13, 2018
- BBC, DR Congo signs new mining law despite companies' opposition, Mar 10, 2018