Congo miners seek delay on 5% worker equity mandate as July deadline looms
2026-06-22 11:40:24 [Print]
Mining companies operating in the Democratic Republic of Congo are urging the government to postpone a directive that requires them to allocate a 5% equity stake to Congolese employees, while labor unions are pressing for immediate implementation ahead of the July 31 deadline, according to a confidential document and three industry sources.
To date, no company has complied with the directive, a union leader confirmed, even as authorities intensify efforts to enforce greater local participation in a sector that remains heavily dominated by foreign investors. Congo is the world's leading cobalt producer and the second-largest copper producer.
A circular issued on January 30-reviewed by Reuters this month-mandates that mining companies transfer the 5% stake to their Congolese workforce and provide documented evidence of compliance.
However, Congo's Chamber of Mines has raised concerns over several unresolved issues, including whether existing shareholders are required to relinquish equity and whether the requirement applies retroactively to long-established operations, according to a mining executive and two union representatives.
To date, no company has complied with the directive, a union leader confirmed, even as authorities intensify efforts to enforce greater local participation in a sector that remains heavily dominated by foreign investors. Congo is the world's leading cobalt producer and the second-largest copper producer.
A circular issued on January 30-reviewed by Reuters this month-mandates that mining companies transfer the 5% stake to their Congolese workforce and provide documented evidence of compliance.
However, Congo's Chamber of Mines has raised concerns over several unresolved issues, including whether existing shareholders are required to relinquish equity and whether the requirement applies retroactively to long-established operations, according to a mining executive and two union representatives.
Samarium Cobalt 30H EXW China
Unit:RMB/kg
China cobalt tetroxide producers' inventory to production ratio statistics by province by month
Unit: %
