DRC: USD 23.1 million collected in the first half of 2021 for the benefit of the Mining Fund for future generations
Revenues in the order of CDF 47,264,529,519 (USD 23,157 million at the end-period budget rate of FC 2041 per US dollar) were collected from mining operators in the first half of 2021 under the Mining Fund for Future Generations ( FOMINN) on linear forecasts estimated at CDF 30,466,644,274 (USD 14.927 million), provide figures in the report of the Ministry of Budget on the execution of the 2021 finance law in the first half of the year.
The Congolese government plans to collect up to 60,933,288,548 CDFs over the whole of 2021 for the benefit of the Mining Fund for future generations.
According to the revised Mining Code, in its article 242 relating to the distribution of the mining royalty, “The mining royalty is paid by the holder of the mining license at the rate of: – 50% acquired from the central power; – 25% paid on an account designated by the Administration of the province where the project is located; – 15% on an account designated by the decentralized territorial entity within the jurisdiction of which the operation takes place; – 10% to the Mining Fund for future generations ”.
