The Democratic Republic of Congo is confident it can reach a deal with international mining companies over its contested new mining code, the country's ambassador to the U.K. tells the Financial Times.
“We are optimistic that there will be a solution,” Marie-Marguerite Ndjeka Opombo says, adding the government is still talking to the companies. “What I know is that mining companies will stay in the Congo. They need the Congo and the Congo needs them.”
Major mining companies including Glencore (OTCPK:GLCNF, OTCPK:GLNCY), Randgold Resources (NASDAQ:GOLD) and Ivanhoe Mines (OTCQX:IVPAF) have threatened to take legal action against the government unless it addresses concerns they have over changes to the country's old mining code.
“We want to share 50/50, on a level playing field but what the miners want, what they are saying is just not acceptable," Opombo says. "They just want to capture the benefits of the mines at the expense of the population.”