DRC completing new mining regulations, ignoring companies’ key concerns
Kinshasa — The Democratic Republic of Congo’s (DRC) mines ministry said it was completing work on new regulations, as a draft document showed the government has so far ignored companies’ key concerns about the reforms. Miners, including Glencore and Randgold Resources, have demanded the government dial back aspects of the legislation approved by President Joseph Kabila in March. The ministry makes no mention of any of the major changes the companies seek, according to a draft document seen by Bloomberg that was verified by a member of a commission charged with revising the mining code, and by a mining company manager. The document was circulated to mining companies on May 3. "We are in the process of working so that there is a draft which must be examined by the government," Valery Mukasa, chief of staff to mines minister Martin Kabwelulu, said from the capital, Kinshasa. "We are first finishing the work and at that moment we will communicate on the whole text." Miners argue the new...
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