The group of seven mining giants who slammed the door at the Congolese Business Federation (FEC) Chamber of Mines is called the Mining Promotion Initiative (MPI) and not G7 Mining. The clarification has just been given by Cyril Mutombo, country director of Barrick in DRC as part of the panel discussion focused on the « Zoom of key projects that are changing the situation in the DRC », this Friday, June 21, 2019 at DRC Mining Week .

Cyril Mutombo first corrected the shooting about the name of « G7 mining », which he considers unofficial. Because, the political context of the time being what it was, this denomination was stuck to them when they had nothing against the country.

« This is a name that was given to the seven CEOs who had met former head of state Joseph Kabila to discuss the new Mining Code. The group is called rather « Mining promotion initiative (MPI), » he explained to the audience.

While the DRC Constitution gives everyone the freedom to choose the association they wish to belong to, these mining giants operating in the DRC have freely opted to leave the FEC and continue to work together to guarantee not only the interests of the DRC. State but also theirs in a wanted win-win partnership.

To this member of MPI to clarify: « when people join together and create a new chamber of commerce association. We must accept them. Because, this competition will stimulate the emulation.  »

Most of the mining industry’s contributions to the public purse come from the activity of MPI members. This includes references to taxes, fees and taxes, as well as direct and indirect jobs created across the country.

To defend their interests, flouted by the Chamber of Mines (reason for leaving the FEC), they got together to reflect on the evolution of a mining industry profitable to all. This is how they demonstrated to the government how tax, as defined in the new Mining Code, posed a serious problem.

« The stability was broken. A mining investment like Kibali took ten years to build its underground mine. And just finished, and you are told that the rules on which you have invested your billions of dollars, have changed. Put yourself in our place, « he lamented.

This situation has created indignation in the hands of these mining operators. From their reflection on the possible solutions, they therefore proposed to the government a payment in installments. This implies that during the fat cow period, they pay more royalties and that if they do not, they pay less.

This update has enlightened the public and eliminated any misinterpretation of the departure of these FEC miners. Present in the room, Dieudonné Kasembo said the FEC still keeps a place for those of these mining operators who want to return home.

Nadine FULA