More fuel for the cobalt rocket!...

More fuel for the cobalt rocket!

http://www.africanews.com/2018/06/07/congo-s-prime-minister-to-sign-new-mining-code-into-law/

1. The new code scraps 10-year protections for existing projects against changes to the fiscal regime, imposes a windfall profits tax and increases royalties. Congo is Africa’s top copper producer and the world’s leading miner of cobalt.

2. The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened legal action against the government last week if their concerns about tax hikes and the elimination of exemptions were not addressed.

3. Kabwelulu said the regulations would first be adopted at a cabinet meeting on Friday and then signed by Prime Minister Bruno Tshibala in the evening, adding that “the application of the code will be immediate!”



My 2cents,
JDI.