BUKAVU — Democratic Republic of Congo’s planned revision of its mining code will not be applied retroactively to existing contracts, the country’s mines minister said
The central African state is seeking to increase its stake in mining projects to 35% from 5% and also hike royalties in order to increase state revenues, rattling mining firms active in the country.
“None of the proposed revisions would be applied retroactively,” Mines Minister Martin Kabwelulu said in text message in response to a question.
Congo mining law changes won't be retroactive -minister
BUKAVU — Democratic Republic of Congo’s planned revision of its mining code will not be applied retroactively to existing contracts, the country’s mines minister said
The central African state is seeking to increase its stake in mining projects to 35% from 5% and also hike royalties in order to increase state revenues, rattling mining firms active in the country.
“None of the proposed revisions would be applied retroactively,” Mines Minister Martin Kabwelulu said in text message in response to a question.
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