DR Congo may boost mine royalties

The Democratic Republic of Congo plans to increase mine royalties and raise its stake in future projects as it tries to carve out a bigger slice of the country's decade-long metal-extraction boom, according to a revised mining code.

The central African country's mining industry has seen record growth since the 2002 code came into effect at the end of almost a decade of civil war. Now the government is demanding terms more favorable to the economy from companies. Copies of the code, which has been submitted to parliament, were obtained separately from five people involved in talks about the revisions. They asked not to be identified because it hasn't been made public.

"The growth of the mining sector, both industrial and artisanal, which should bring the state substantial revenue for economic and social development, has not fulfilled numerous expectations," the government said in a note explaining the revisions given to parliament last month.