Mining Industry Launches Initiative in Congo to Lobby Against Mining Code
2018年8月23日 - 7:26PM
Dow Jones News
By Oliver Griffin
Randgold Resources Ltd. (RRS.LN) and other miners have launched
an initiative to engage Democratic Republic of the Congo's
government over industry concerns about the country's new mining
code and other issues.
Aside from Randgold, the founding members of the Mining
Promotion Initiative, or MPI, are Glencore PLC (GLEN.LN) and
Ivanhoe Mines Ltd. (IVN.T), among others.
Randgold said Thursday that the companies involved in the MPI
account for 80% of copper and cobalt production, and 90% of gold
production in the Congo.
MPI General Secretary Richard Robinson said the mining
industry's main issue is the application of the new code, which he
said compromises investors who have put money in the country on
terms guaranteed by the government through legislation, specific
guarantees and bilateral trade agreements.
Mr. Robinson said certain key issues would discourage further
investment in large and small sustainable projects in the Congo if
they are left unaddressed.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
August 23, 2018 06:11 ET (10:11 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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