Congo to enforce 10% local share requirement for miners

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The Democratic Republic of Congo will begin enforcing a 2018 law from July 31 that requires mining companies to transfer 10% of their equity to Congolese nationals, including 5% for employees. No miner has yet complied and firms including Glencore, Ivanhoe Mines, CMOC and Huayou Cobalt were ordered in January to prove compliance or face sanctions. The mines ministry said a decree detailing implementation will be finalised after limited technical amendments and an ad hoc committee will complete changes, while authorities consider interest-free loans and cooperatives to help employees acquire shares.

Congo will enforce a 10% local ownership requirement from July 31.