INTERNATIONAL - Randgold Resources is confident that talks with the Democratic Republic of Congo will lead to a compromise on the country’s new mining rules, which risk hurting producers’ profits.
Miners, including Glencore and Randgold, have asked the government to dial back aspects of the legislation approved by President Joseph Kabila in March. They argue that the new code will drive investors away from the DRC - the world’s top cobalt producer and a key source of copper - as it breaches titleholders' rights, increases metal royalty payments and introduces new taxes.
“On the critical issues, we were given assurances by the president. There’s no reason to believe he won’t be good to his word,” chief executive Mark Bristow said in an interview in London.