DRC: Kibali Gold Mine expects government to reimburse its 195 million USD collected as VAT

The mining company Kibali Gold Mine intends to settle this year with the new government which will be put in place a certain number of unresolved legal and fiscal questions, including that relating to the reimbursement of its 195 million USD collected by the tax authorities as VAT, overdue until December 31, 2020.

It is the general manager of Barrick Gold, Mark Bristow, who declared it on Tuesday, February 2 during the presentation in Kinshasa of the production results of Kibali Gold Mine for the financial year 2020.

While reiterating his desire to continue operating in the Democratic Republic of Congo, Mark Bristow wished to find during this year common ground with the next National Executive, in addition to this issue of refundable VAT, but also on certain undue charges. which continue to be levied opportunistically including the FPI tax (Tax to promote local industry) and the OGEFREM tax.

Equally, Kibali Gold Mine wants to create “a more equitable partnership” with the government for the construction and maintenance of national infrastructure through the effective application of the FONER road tax. Clearly, Kibali does not understand why it must pay the FONER tax when the company is engaged in the construction of roads in the province where it operates, in this case in Haut-Uélé.

Similarly, Mark Bristow wishes, during this year 2021, the commitment of all parties including the government of the Republic for the operationalization of artisanal mining corridors, a project which is lagging behind, according to him.

Note that the mining company Kibali Gold Mine produced 808,0134 ounces of gold in 2020, exceeding its forecasts of 750,000 ounces of gold, despite the context of covid-19.

The company attributes this performance to the operation of its underground mine, whose ore production reached a record monthly and quarterly level in December and the fourth quarter of 2020.

Over the past ten years, Kibali has injected US $ 3.4 billion into the Congolese economy in the form of taxes, permits, infrastructure, salaries, and payments to local suppliers.

Kibali Gold Mine is a joint venture between Barrick Gold (45%), Anglo Gold Ashati (45%) and SOKIMO or the Congolese State (10%).