Reuters: Regulatory News: Congo mining law changes won't be retroactive -minister

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Congo mining law changes won't be retroactive -minister Nov 1st 2012, 11:57 BUKAVU, Democratic Republic of Congo | Thu Nov 1, 2012 7:57am EDT BUKAVU, Democratic Republic of Congo, Nov 1 (Reuters) - D emocratic Republic of Congo's planned revision of its mining code will not be applied retroactively to existing contracts, the country's mines ministers said on Thursday. The central African state is seeking to increase its stake in mining projects to 35 percent from 5 percent and also hike royalties in order to increase state revenues, rattling mining firms active in the country. "None of the proposed revisions would be applied retroactively," Mines Minister Martin Kabwelulu said in text message in response to a question.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions