ANNOUNCEMENT 14 Jun 2010

In June 2010, the government of the Democratic Republic of Congo announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Reuters Africa. 2010. 'Update 1: Congo mining contract proposes 35 pct state share.' 14 June. http://af.reuters.com/article/drcNews/idAFLDE65D1B620100614?pageNumber=1&virtualBrandChannel=0


Inception date: No inception date

FDI: Entry and ownership rule

On 14 June 2010, in an interview with Reuters, the Ministry of Mines of the Democratic Republic of Congo has proposed a 35% government share in all future mining joint ventures. The government's share in current joint ventures is said to range from 12% to 40%. The proposed increase is awaiting government approval and will serve as a basis for all future negotiations. The new proposal also requires companies to pay a 1% signing-on bonus on the total value of the deposit determined in the feasibility study and a 2.5% royalty on gross sales.
 
 

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