Congo pushes locals mining ownership rule despite industry concerns
Democratic Republic of Congo will begin enforcing a long-delayed requirement for mining companies to offer local ownership stakes from July 31, the mines ministry said, despite concerns from some of the world’s biggest copper and cobalt miners over its impact on the sector.
The mines ministry reaffirmed the July 31 deadline in a post on X on Tuesday after talks with mining companies on a decree setting out how the rule will be implemented.
Reuters previously reported that miners in Congo, the world’s top cobalt producer and second-largest copper producer, were seeking to delay enforcement of a 2018 law requiring companies to transfer 10% of their equity to Congolese nationals, including 5% for employees.
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