Kamoa Copper S.A. Makes a payment of US $ 5,798,714 Towards Community Development in the DRC

KOLWEZI, DEMOCRATIC REPUBLIC OF THE CONGO, December 26, 2023 – The Congolese mining laws and regulation requires that every entity that withhold mining title deed make a provision to pay 0.3% of its turnover for the previous financial year to a specialized body that will be carrying community development projects.
Kamoa Copper S.A. has entirely fulfilled this requirement by paying USD 5,798,714 on 26 December 2023 to DOT-KAMOA, which is the specialized entity that will be responsible for community development projects.

This amount corresponds to the remaining 90% of the endowment of the 0.3% of the company’s turnover for the 2022 financial year, following the request of the DOT-KAMOA and the approval of the ministry of Mines, Kamoa did a prepayment of 10% earlier this year in July on the request of the DOT-KAMOA and the approval of the Minister of Mines.

It is worthy to note that Kamoa Copper S.A. is amongst the first mining companies operating in DRC that has fully complied with this specific regulation as this is in line with Kamoa commitment to continuously contribute to the improvement and development of local communities.