Dr Congo to enforce local ownership rule for mining companies

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Trucks loaded with copper prepared to leave the Tenke Fungurume Mine, one of the world's largest copper and cobalt mines in Tenke, Democratic Republic of Congo, June 17, 2023. /CFP The Democratic Republic of the Congo will begin enforcing a long-delayed law requiring mining companies to transfer part of their ownership to Congolese nationals from July 31, the government said. This is despite concerns from major copper and cobalt producers over its impact on the sector. The 2018 mining code requires companies to allocate 10% of their equity to Congolese nationals, including 5% for employees. However, no mining company has complied, citing uncertainty over how the measure would be implemented. The mines ministry said the July 31 deadline remains in place following talks with mining companies. Companies were previously warned they could face sanctions if they fail to comply, although the government has not specified what those penalties would be.

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