Miners in the Democratic Republic of Congo, including Barrick, face potential regulatory headwinds. A bill introduced in June proposes to amend over 40 articles of the 2018 mining code. The proposed changes aim to expand state control over strategic minerals and increase oversight. These proposals cause concern among investors.
In response, the DRC's Chamber of Mines held an emergency forum in mid-July. The forum aimed to form a unified industry position. Cyrille Mutombo, head of Barrick's Kibali mine, noted that frequent changes disrupt long-term planning. A government spokesperson stated officials will listen to and consider the mining sector's concerns as the legislative process continues.