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Mining industry proposes sliding royalty scale in Congo

Thu, 29th Mar 2018 13:55

LONDON, March 29 (Reuters) - Mining companies includingGlencore and Randgold on Thursday proposed in ajoint statement a sliding scale of royalty rates for keycommodities to replace a windfall tax introduced in theDemocratic Republic of Congo's new mining code.

The DRC signed into law a new mining code in early Marchthat increases tax and royalties on operators mining commoditiesincluding cobalt.(Reporting By Julia Payne; editing by Barbara Lewis)

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