http://www.e-mj.com/news/leading-deveopments/5102-drc-chamber-of-mines-urges-government-to-retain-current-mining-code.html#.VWVbEWccQdU

The Chamber of Mines noted that the Fraser Institute’s 2014 survey had ranked the DRC 61st out of 122 mining jurisdictions in terms of investment attractiveness. Had it not been for its highly prospective geology, it would have come in even lower.

“No investor will commit to a country, no matter how impressive its geology, if there is no prospect of a reasonable return,” Tuma-Waku said. “The proposed new code will reduce the return on gold projects to virtually zero, while the copper and cobalt sectors will also be badly hit, with investors earning only some 20% of total cash flow over the life of a mine against the government’s 80% take.”

Tuma-Waku said against this background it was essential that the DRC government should re-engage with the country’s mining industry to avert an outcome that would severely damage both, and to maintain a fiscal and regulatory regime that will continue to encourage investment.