DR Congo Enforces Local Equity Mandate for Miners

The mines ministry of the Democratic Republic of Congo has mandated that mining companies must transfer equity to Congolese nationals, in accordance with a 2018 law. This requirement has raised concerns among some of the world's largest copper and cobalt miners, including Glencore, Ivanhoe Mines, CMOC, and Huayou Cobalt, who have sought to delay enforcement due to unresolved implementation questions.

In January 2023, the government of Kinshasa ordered these companies to demonstrate compliance by the end of July 2023 or face sanctions. The mines ministry reaffirmed this deadline on July 31, 2023, following discussions with mining companies regarding a decree that outlines the implementation of the rule.

An ad hoc committee was formed to finalize technical amendments to the decree, although specific details of these amendments were not disclosed. The potential sanctions for non-compliance remain unspecified.