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11/03/18
20:50
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Originally posted by Hokusai
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DR Congo has talked for years about changing its 2002 "mining code, which it believed put too many profits in the hands of foreign companies, says BBC World Service Africa editor Mary Harper
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"The Democratic Republic of Congo has moved to increase taxes on mining firms and increase government royalties from the industry despite fierce opposition from international mining companies."
UNBELIEVABLE that people here are trying to spin this
as not applying to AVZ
This has been in that cards since 2002so is a MAJOR negative development. Why else are mining executives pleading.
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It will apply to lithium as well.
But no strategic mineral royalty nor super profit tax.
Royalty will be increased to 3.5% for copper and lithium, company tax will be increased to 35%, imo.
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