Last March 23, the Congolese mines minister Martin Kabwelulu (photo) rejected a proposal from some mining companies to ease a number of provisions in the new mining code in exchange of higher royalties.
The companies said they were willing to pay more royalties to the government if it agreed to respect the previous code’s stability clause that protected them from changes in the tax and customs regime for 10 years.
“We can change nothing in the mining code. The taxation prescribed by the mining code is unchangeable,” Kabwelulu said.
His statement concurs with those of Gécamines board’s chairman, Albert Yuma, who told Bloomberg that “there can be no renegotiation, once the code is promulgated”.
He added that mining companies would not get substantial concessions in discussions with the State, though the latter had promised to address their concerns on a case-by-case basis.
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