The Democratic Republic of Congo has decided to triple the royalties on “strategic” minerals exploited on its territory.
The royalty rate of 3.5% is raised to 10% on the cobalt used in the manufacture of electric battery, said Martin Kabwelulu, Minister of Mines quoted by Reuters. It will be the same for other ores classified “strategic” as coltan, used in electronic devices, and germanium, used in transistors.
The decree referring to these new measures was signed by Prime Minister Bruno Tshibala on 27 November, in accordance with the new mining code adopted this year. This, despite intense lobbying by multinationals like Glencore who hoped to see the Congolese authorities suspend this provision.
The subsoil of DR Congo is home to rare mineral resources that feed the world’s automotive and electronics industries without the country’s benefits being sufficiently realized. The RD Condo produces for example between 60 and 75% of the world cobalt supply, without being able to take advantage of this position.
