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Increasing state revenue from mining operations and generating foreign investment among the changes to legislation around the world this year

Making countries more attractive to foreign investment, minority and Indigenous rights, and rebalancing the revenue scales between companies and countries factored prominently in mining legislation changes around the world in 2018. Below is a look at some of the regulation changes that affected miners this year.

Africa

The Democratic Republic of Congo signed a new mining code into law in June that raised royalty rates on copper to three per cent, up from 2.5 per cent, and on gold to 3.5 per cent, up from 2.5 per cent. Most significantly, the country declared cobalt a “strategic” mineral and tripled the royalty on it to 10 per cent, up from 3.5 per cent previously. The code was signed into law after removing a clause that would have given projects a 10-year exemption period, and instead came into force immediately…

Read More: http://magazine.cim.org/en/news/2018/countries-move-to-rebalance-the-revenue-scales-in-2018/

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