Congo to Enforce Local Ownership Rule for Copper, Cobalt Miners

Democratic Republic of Congo will enforce a long-dormant rule requiring local employee ownership for mines in a move that may rebalance shareholdings in some of the world’s biggest copper and cobalt producers.

In a letter dated Jan. 30 and addressed to miners of all metals in the country, Mines Minister Louis Watum said firms must demonstrate that 5% of their share capital is held by Congolese employees.