Economics
Congo Raises Cobalt, Copper Taxes Amid Opposition From Miners
- Copper royalty rises to 3.5% from 2%; Cobalt may rise further
- Congo is biggest source of cobalt; top copper miner in Africa
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The Democratic Republic of Congo’s Senate approved legislation that raises taxes and royalties on metals including copper and cobalt under reforms fiercely opposed by the mining industry.
The Upper House of Congo’s parliament adopted the law on Wednesday in a form that is “not identical” to that passed by the National Assembly on Dec. 8, Evariste Mabi Mulumba, president of the Senate’s economics and finance commission, said by phone from Congo’s capital, Kinshasa.