A new law could increase royalties mining companies are charged for cobalt from 2% to 10% ©Randgold Resources Limited
A new law could increase royalties mining companies are charged for cobalt from 2% to 10% ©Randgold Resources Limited

DRC tax to increase cobalt prices

1 February 2018

An overhaul of commodity taxes in the Democratic Republic of Congo (DRC) could push up cobalt prices.

The legislature has passed a law that will allow the country to increase the royalties it charges mining companies for extracting cobalt, used in battery production, to 10%, up from 2%, by classifying it as a strategic resource.

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