DRC miners to gain stake in international mining companies

Democratic Republic of Congo miners are due to take ownership of 5% equity stakes in international mining companies starting July 31, 2026, following implementation of the government's local content plan, the Ministry of Mines said on July 21.

In March 2018, the DRC passed a local ownership law requiring international miners to cede 10% equity to Congolese nationals, including 5% to company employees. Mining companies had sought a delay in implementing the policy, citing the need for greater clarity on how the employee shares would be financed. The state has signaled its reluctance to grant further postponements and wants the order to take effect by July 31, 2026.

The mines ministry reaffirmed the July 31 deadline in a statement posted on X on July 21, following a meeting between the government and major miners, including Glencore, CMOC, Ivanhoe and Huayou Cobalt, to ensure compliance ahead of the deadline.

"Mining companies will have to comply ‌with ⁠the legal provisions regarding Congolese participation in their share capital," the ministry said in the statement.

In January, the government ordered all mining companies to implement the 2018 law and transfer 10% shares to nationals. Under the arrangement, the state retains a non-dilutable 10% stake.

According to S&P Global Energy, the DRC is the world's largest producer of cobalt and the second-largest producer of copper and also holds significant lithium, gold and tantalum resources. With copper and cobalt prices and output growing in global markets, authorities have stepped up efforts to enforce long-awaited legislation aimed at ensuring mine employees receive equity stakes and strengthening local ownership of strategic resources.

The government said it will provide interest-free loans to employees to help fund their equity contributions. It also plans amendments to the 2018 mining code to clarify financing arrangements for international companies ahead of July 31, 2026, so that investors and the government are aligned.

The ministry warned that companies failing to meet the deadline will face penalties.

The DRC produced at least 3.4 million metric tons of copper in 2025, accounting for 15% of global production, according to estimates from S&P Global Energy.

Platts, part of S&P Global Energy, assessed Chinese copper import premiums at $115/metric ton plus London Metal Exchange cash, CIF China, on July 22 for LME-registered normal brands of electrolytically refined cathode, up $20/mt from July 15. Platts assessed EQ cathode at $85/mt on July 22, up $20/mt from July 15. Platts assessed the top ER brands differential at $20/mt and the solvent-extracted/electrowon differential at minus $5/mt.