[miningmx.com] – PLANS by the Democratic Republic of Congo (DRC) to
increase its stake in mining projects to 35% would not be applied retroactively, said
Reuters citing the country’s mines minister, Martin Kabwelulu.
The proposals also include changes to the country’s royalties system, as well as
alterations to the term of exploration licences. Reuters was quoting from a draft
proposal of the mining law changes which it said it had in its possession.
According to the draft, mining royalties on non-ferrous metals will increase to 4%
from 2% while strategic and precious metals royalties would increase to 6% from
2.5%.
Coloured stones would attract a 6% royalty up from 4% currently.
Mining royalties would remain unchanged at 1% for industrial metals, solid
hydrocarbons and other non-cited substances and at 0.5% for iron and ferrous metals,
Reuters said.
Exploration permits would have a three-year term compared to four or five years
currently, while the licence to mine would be reduced to 25 years from 30 years as
per the current mining law.
“At each renewal, the state can look at the possibility of renegotiating the modalities
of its participation,’ the draft proposal said.
