DRC: Glencore paid the state $ 424 million in taxes, royalties and other payments in 2020 (report)

The industrial mining company Glencore present in the Democratic Republic of Congo (DRC) has paid 424 million US dollars to the Congolese government in terms of taxes, duties and royalties.

In its report released last weekend, mining giant Glencore said it allocated US $ 331 million in capital spending last year.

The same report states that Glencore’s activities have provided employment for 14,500 employees and contractors.

It emerges from this report that the set of payments made in 2020 is much lower than the 843.407 million USD paid on behalf of the Congolese Government.

In 2019, Glencore’s level of payments to the Congolese state was even higher beyond the sum of USD 1 billion.

Despite a difficult context characterized by the effects of the Covid-19 pandemic, it should be noted that Glencore has invested USD 4.1 million to support various projects of local communities during the year 2020.

Glencore has been active in the Democratic Republic of Congo (DRC) since 2008 through two companies: Mutanda Mining SARL (MUMI), and Kamoto Copper Company (KCC), both located near Kolwezi, in the province of Lualaba.

To date, Glencore has invested over US $ 7 billion in the development of MUMI and KCC.

MUMI, it should be remembered, includes copper and cobalt mines as well as processing plants and is wholly owned by Glencore.

MUMI employs 2,750 people.

Since December 2019, MUMI has been temporarily relegated to a service and maintenance operation.

During this period, the company carries out feasibility studies.

KCC includes copper and cobalt mines as well as integrated metallurgical facilities.

The operation has one of the largest copper reserves in the world, with a current lifespan exceeding 25 years.

Cobalt is a by-product of copper production, and demand continues to increase due to its use in batteries for electric vehicles or portable electronic devices.

Glencore owns 75% of the shares in KCC. The remainder of the shares is held by the Congolese state mining company, La Générale des Carrières et des Mines (Gécamines).