Congo president signs law opposed by major mining companies

[Judi Lynn]

Source: Associated Press

Updated 2:12 pm, Friday, March 9, 2018

KINSHASA, Congo (AP) — Congolese President Joseph Kabila has signed a mining law that is expected to increase the country's royalties despite opposition from major mining companies.

Kabila announced the signing on Friday, two days after he met with mining company representatives for at least seven hours about the legislation that Congo's parliament already had approved.

Congo remains deeply impoverished despite being one of the world's most mineral-rich countries. The vast nation was plundered during decades of colonialism and dictatorship.

The revisions to Congo's 2002 mining code have brought opposition because they would sharply increase the costs of doing business in the country. Kabila has said he will take the concerns of mining companies into consideration.

Read more: https://www.chron.com/news/article/Congo-president-signs-law-opposed-by-major-mining-12741807.php

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Best wishes to President Joseph Kabila. Hope he won't back down, and won't be assassinated.

[Hortensis]

1. Well, the Congolese are trying lawful ways to get rid of

this bloodsucking kleptocrat. I read that a poll showed he'd get less than 10% of the vote if he'd allow elections. In spite of the enormous wealth being generated, mostly by international companies, from Congo's natural resources, it's nevertheless ranked as the poorest nation on earth. And, of course, reportedly the worst atrocities, people of all ages hacked to pieces, in remote areas are reportedly by the government sponsored militia sent in to stop rebellion.

Maybe turning the screws on the mining companies who expect Congo's leadership to do business with them will prove problematic for Kabila, who for some reason reportedly keeps most of his wealth in the country, instead of sending it safely abroad like most of his sort. This last probably means he won't step down this year again, as required by law.

[JustABozoOnThisBus]

2. Best wishes to President Joseph Kabila, and ...

... I hope some of this windfall reaches people who need healthcare, education, housing. The Prez is in his second (and final) term of office, which was supposed to end in 2016, but has been extended, maybe for life.

I'm guessing most of the windfall will wind up in Kabila's personal accounts in Switzerland, Grand Caymans, Cyprus, etc. I hope I'm wrong.

[DiverDave]

3. And the

Invasion to make the world safe for corporate profits begins in 3.2.1.