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The Democratic Republic of Congo has prohibited the export of copper and cobalt concentrates by miners, in an effort to encourage them to process and refine the product inside the country.
Government reports said this was part of the country’s bid to keep more revenue from its vast mineral wealth.
The order also introduces new taxes on economically significant by-products of mining.
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The ban is effective immediately but the new by-product tax regime has a three-month transition period.
The Congo is the world’s largest producer of cobalt and second largest supplier of copper – both of which are in high demand globally.
They are used in many different products such as electronics, rechargeable batteries, motors & generators.
The mining sector is the engine of the DRC’s economy, contributing roughly half of the country’s $10.9 billion estimated GDP.
