You are here

Category: Economy

60% Repatriation Mining in DRC Economy 

Non-compliant miners have 15 days to repatriate 60% of export earnings to their DRC held accounts

arnbethnic
Mining companies that have not yet repatriated 60% of their export earnings have 15 days to do so under penalty of sanction, demands the Council of Ministers of Friday August 28 on the instructions of the President of the Republic, Félix. Tshisekedi. According to the data put forward by the Head of State during this 46th meeting of the Council of Ministers held on Friday, August 28, an amount of approximately 1.5 billion USD has not been repatriated to the Democratic Republic of Congo by certain companies. mining during the… Read More Here
Zambia Chamber of Mines Boss Mining tax Economy Mining in Zambia Taxes 

Zambia Chamber of Mines reiterates their position on MRT

arnbethnic
After the Zambia Revenue Authority Commissioner-General Kingsley Chanda said the Chamber of Mines should not alarm the nation by issuing false statements on Mineral Royalty Tax. The Chamber of Mines says it will stand by what it earlier stated that the Mineral Royalty Tax dropped by 12 percent and not the six percent announced by the Zambia Revenue Authority. Responding to a press query, Chamber president Goodwell Mateyo said the chamber stood by its position. “I believe the Commissioner-General was referring to a report produced by the Chamber of Mines.… Read More Here
Albert Yuma FEC Mining in DRC Economy Mining tax Taxes 

FEC denounces the detention of economic operators following inquiries into compensation for import duties and taxes

Arnie
The president of the Federation of Congo Enterprises (FEC), Albert Yuma, in a correspondence on August 18, 2020, wrote to the Attorney General at the Court of Cassation to denounce the detention of economic operators in the context of the rights compensation file. and import taxes. “We have recently witnessed a wave of arrests of which economic operators are subject, which are systematically followed by detentions by the courts, for offenses in the context of compensation for operations linked to claims of companies on public authorities with those relating to… Read More Here
G7 International Economy 

G7 calls on bilateral creditors to extend the suspension of debt service to poor countries until 2021

Arnie
At the end of their meeting held on Monday August 17 by video conference, the G7 finance ministers urged all official bilateral creditors to extend their G20 “Debt Service Suspension Initiative” (DSSI) until 2021. for low-income countries, reports Agence Ecofin. During this meeting, which was organized by US Treasury Secretary Steven Mnuchin, G7 finance ministers even agreed to consider additional options for the poorest countries. The leaders of the World Bank and the International Monetary Fund, present at these discussions, also supported this call, taking into account the economic impact of… Read More Here
Tighten controls over miners for currency repatriation- DRC 1 Mining in DRC Economy 

Tighten controls over miners for currency repatriation- DRC

admin
 Authorities in the Democratic Republic of Congo have indicated they will tighten controls on mineral exports to tame a weakening local currency against the US dollar. The move came as the local Congolese France continued to drop in value against the dollar, in what officials claimed was lack of following the rule by mineral exporters. Deogratias Mutombo, the Governor of the Central Bank of Congo (BCC) argued on Monday that the current depreciation of the local currency is caused by the lack of repatriation of foreign earnings by mining companies… Read More Here
First Quantum Minerals 1 FQM Mining in Zambia Economy Mining tax 

FQM CALLS ON NGOs TO ‘GET IT RIGHT’ ON MINING SECTOR’S CONTRIBUTION TO DEVELOPMENT | ZAMBIA

Arnie
Zambia’s largest taxpayer, First Quantum Minerals, has called upon non-corporate actors to better acquaint themselves with the mining sector’s contribution to community development. The mining company said that inaccurate reports from some non-governmental organisations (NGOs) have been misleading and constitute the spreading of ‘fake news’. Such reports have the potential to unfairly damage reputations, and also tarnish their reputations as being the flag bearers of good governance/honest brokers. “We work hard to leave a lasting and positive legacy everywhere we work. Our corporate values dictate that we devote considerable resources… Read More Here
central-bank-of-Congo building Mining in DRC Economy Mining tax 

Mutanda Mining’s payment of USD 100 million in 2015 was a “regular operation”, according to a source at the Central Bank | DRC

arnbethnic
The governor of the Central Bank of Congo (BCC), Déogratias Mutombo, was at his office this Tuesday, August 11, a source inside the BCC confirmed. Faced with rumors about the arrest of the boss of the BCC in connection with 100 million USD paid by the mining company Mutanda Mining (MUMI). Our source maintained that Déogratias Mutombo did not appear at the Office of the Inspection of the Judicial Police of the Public Prosecutor’s Office on Monday. “No, the governor is in his office. He did not show up when he was… Read More Here
Chamber of Mines DRC Mining in DRC Economy Mining tax Taxes 

The Chamber of Mines denounces the suspension of VAT exemption on mining imports | DRC

arnbethnic
The Chamber of Mines and the FEC (Fédération des entreprises du Congo) denounces a series of measures taken by the Government which, according to them, are damaging the cash flow of mining companies and reiterates its firm desire to always work with the country’s institutions. for improving the economic climate. This is revealed in a communication sent on Wednesday, August 12. In its press release, the Chamber of Mines stated that mining companies, although hard hit by a difficult economic situation amplified by the negative effects of the Covid-19 pandemic… Read More Here
repatriated USD Mining in DRC Economy 

DRC Miners repatriated USD 8.081 billion between June 2018 and July 2020, which is 64.31% of export earnings

arnbethnic
  The Secretary General of Mines, Yombo Y’Apeke, in a correspondence dated August 3, 2020 and addressed to the Minister of Mines, revealed that the mining operators have repatriated to the Democratic Republic of the Congo 8 billion 81 million 836,524.5 USD on the revenues of ‘exports valued at USD 12 billion 567 million 204,218.31 during the period from July 2018 to June 2020, i.e. an estimated repatriation rate of 64.31%. Here is in detail the breakdown of export earnings and repatriation operated by mining companies in the DRC between… Read More Here
industrialization Mining in DRC Economy 

A Master Plan of industrialization of the DRC launched

arnbethnic
The Minister of Industry, Julien Paluku, proceeded to launch the project of developing the Master Plan of industrialization of the DRC in Kinshasa on thursday. This tool based on 3 axes, produced by the research firm Congo Challenge, aims to materialize the national policy and industrial strategies of the DRC. According to Julien Paluku, the main aim of this master plan is to make the DRC an economic and industrial pool in order to establish itself as a brand in Africa. “This master plan is a tool for implementing our… Read More Here

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Copperbelt Katanga Mining will use the information you provide on this form to be in touch with you and to provide updates and marketing.