Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
The Democratic Republic of Congo has lifted a suspension of mining activities in the South Kivu province, with the exception of gold extraction, the region’s governor said in a statement on Thursday.
Gold, tin ore cassiterite and hi-tech mineral coltan from the eastern province are mostly mined by so-called “artisanal” miners using rudimentary means.
Congo’s gold production is systematically underreported, and tons of the precious metal are smuggled into global supply chains through its eastern neighbours.
Governor Jean-Jacques Purusi Sadiki in July suspended all mining activities in the restive region and ordered companies and operators to leave mining sites.
He said at the time the decision was taken due to “disorder caused by the mining operators”, without elaborating.
After a meeting with mining operators it was decided to lift the suspension, a statement published by a government spokesperson said.
The statement urged cooperatives, mining companies and gold-buying outlets to sort out their situation with the tax authorities, adding that consultations with players in the industry will continue.
“The aim is to transform the mining sector into a genuine lever for stability, wealth creation for all and the socio-economic development of South Kivu province,” it added.
(By Crispin Kyala, Ange Kasongo and Anait Miridzhanian; Editing by Jason Neely, Tomasz Janowski and Jan Harvey)
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