African governments demand more from mining

For nearly six hours senior mining executives met privately with President Joseph Kabila in Kinshasa to debate the controversial mining code proposed for the Democratic Republic of Congo (DRC). Heads of industry giants like Glencore, Ivanhoe and China Molybdenum had all flown in for the meeting. The new code, they argued, would knock back development of the DRC’s mining sector and dissuade international investment. Kabila disagreed. Two days later the president signed the code into law.

In the past 18 months tussles like these have been unfolding across the African continent. Rising commodity prices and ballooning market demand for minerals – especially base metals – have bolstered mining profits and African governments are looking for a greater slice of the pie. While this…

Read More

*** This news item is 3rd party content and is included strictly for non-commercial informational purposes.