DR Congo to up mining project levies

Democratic Republic of Congo will change its mining code to increase tanew and used balls for millsx rates and raise the government's minimum automatic stake in mining projects, the mines minister said on Wednesday.

Martin Kabwelulu said the current mining code, which is 10 years old, was not giving the government enough revenues from the mining sector. “We must increase receipts... all the African countries are in agreement that we can change our mining codes, because 10 years later we haven't seen the necessary resources,” he told reporters on the margins of a mining conference. “We're in the process of composing the text (for the new code) and we're going to present it to the new parliament.” Kabwelulu said the government would look to increase the 5 percent stake it gets when mining ventures start producing, without giving exact details. He said the government received around $100 million in receipts from...