Congo’s 10 Percent Ownership Rule Is Due. The Decree Is Not.
The 2018 mining code requires Congolese to hold a tenth of mining company capital. The moratorium expired on 31 July and the rules are still unwritten. The post Congo’s 10 Percent Ownership Rule Is Due. The Decree Is Not. appeared first on The Rio Times .
Congo's mining code, introduced by Law No. 18/001 of 9 March 2018, mandates that at least 10 percent of a mining company's capital holding an exploitation permit must be owned by Congolese nationals. This rule is divided into two parts: five percent for the company's Congolese employees and five percent for other Congolese individuals.
A moratorium on the enforcement of this requirement expired on 31 July 2026, making the obligation live. However, no decree has been adopted outlining how the shares are allocated, valued, or transferred, leaving companies without a clear procedure to comply. The mines ministry and the Chamber of Mines worked together to draft a decree, but no adoption date has been announced.
The uncertainty surrounding the rule is significant, especially given Congo's dominance in cobalt and copper production. While the intention behind the rule is understandable, its implementation remains a challenge due to the lack of clear guidelines and potential obstacles in terms of valuation methods and available capital or refining capacity.
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