DR Congo

KINSHASA (Capital Markets in Africa) – The options for mining companies battling new legislation in the Democratic Republic of Congo — Africa’s biggest copper producer and the source of two-thirds of the world’s cobalt — have just about run out. After six months of lobbying, companies including Glencore Plc and Randgold Resources Ltd. have got nowhere in their battle to push back against the mining law, which voids existing agreements and increases their costs. Congo approved the final part of…

KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo President Joseph Kabila isn’t planning to seek another term in an election scheduled for December as his opponents have speculated, the country’s prime minister said. While the constitution bars Kabila from seeking a third term, he’s refused publicly to rule himself out as a candidate in a vote scheduled for Dec. 23. Attempting to extend his 17-year rule would outrage his opponents and risk destabilizing Africa’s biggest…

KINSHASA (Capital Markets in Africa) – Congolese President Joseph Kabila will sign off on changes to the country’s mining code but left the door open to further talks after a lengthy meeting with senior industry executives who oppose the legal reform. Glencore Plc Chief Executive Officer Ivan Glasenberg, Randgold Resources Ltd.’sMark Bristow and other top officials met Kabila for five hours Wednesday in the capital, Kinshasa, to discuss the new rules. The changes will raise taxes and other costs…