Cobalt explorers see Congo mine law offset by price, high grades

Junior miners exploring for cobalt in the Democratic Republic of Congo (DRC) reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed. Congo, the world’s largest source of the metal, this month began implementing an amended mining code that introduces new taxes and increases royalty payments. Miners including Glencore, Randgold Resources and China Molybdenum have criticized the new law and threatened to sue to protect their investments.