The Democratic Republic of Congo will begin enforcing a long-dormant rule requiring mining companies to allocate part of their share capital to local employees.
Mines Minister Louis Watum said firms must show that at least 5% of their share capital is held by Congolese employees.
Companies have until July 31, 2026, to provide proof of compliance, according to the letter, which the ministry posted on X.
The move could reshape ownership structures at some of the world’s largest copper and cobalt producers and affect a wide range of industrial mining projects in Congo, which supplies about 70% of the world’s cobalt and is the second-largest producer of copper, Blooomberg reported.
Major operators in the country include Glencore, CMOC Group, Ivanhoe Mines, Eurasian Resources Group and Zijin Mining Group.
Barrick Mining operates one of Africa’s largest gold mines in Congo, which also holds significant deposits of lithium, tantalum, tin and zinc.
The move comes as Congo holds talks with the Trump administration that could lead to increased US investment in the mining sector, which has historically been dominated by Chinese companies.
The order cites provisions in Congo’s 2018 mining code and related regulations that require mining companies to reserve 5% of their capital for Congolese employees, a rule that has not been consistently enforced in the past.
The mining code also requires companies to set aside an additional 5% of shares for purchase by private Congolese individuals, though this requirement was not explicitly referenced in Watum’s letter.
The employee ownership requirement is separate from rules obliging mining projects to cede a 10% free-carried interest to the state, with a further 5% payable upon renewal of a mining permit.
Several African countries have in recent years introduced or tightened laws to increase local ownership of natural resources. Burkina Faso, Niger, Guinea and Zimbabwe have revised their mining codes to expand state participation, raise royalty rates and tighten foreign exchange rules, arguing that decades of liberal mining regimes have delivered limited benefits to local economies.
- Business Insider Africa