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DR Congo says seeks bigger stake in mine projects
October 30, 2012 / 3:11 PM / 5 years ago

DR Congo says seeks bigger stake in mine projects

BUKAVU, Democratic Republic of Congo, Oct 30 (Reuters) - D emocratic Republic of Congo will seek to raise its stake in new mining projects to 35 percent in a revised mining code, up from 5 percent now, the country’s top mining official said on Tuesday.

“We’ve proposed (a government stake) of 35 percent when an exploration permit is transformed into an exploitation permit. Its currently 5 percent,” Mines Minister Martin Kabwelulu told Reuters by text message.

Congo’s ten year old mining laws are undergoing a review after the government said it wanted to increase its receipts from mining, with the new law expected early next year.

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