Can foreigners own mining projects in the DRC?

Foreign investors can own mining projects in the DRC. The 2018 Mining Code does not restrict foreign ownership of DRC mining companies.

Foreign investors may hold majority interests in DRC-incorporated mining companies, subject to the mandatory 10 percent non-dilutable free-carried equity interest granted to the DRC state under Article 71 of the Mining Code.

The rules

All mining in the DRC must be conducted through a company incorporated in the DRC under OHADA law — either an SA (Société par Actions) or SPRL (Société par Actions à Responsabilité Limitée). Foreign parent companies cannot hold permits directly; the permit must be held by the DRC-incorporated entity.

The 10 percent free-carried state interest is mandatory for new exploitation permits. It is not paid for by the government; it is granted at no cost as a condition of permit issuance. The remaining 90 percent can be structured as the investor chooses — a single foreign company holding 90 percent is permissible under the Code.

Existing projects negotiated under the 2002 Code may have state participation at different levels (5 percent was the minimum under that regime). Several historical projects carry 20–25 percent state stakes reflecting contractually negotiated positions above the Code minimum.

Practical constraints

Foreign ownership is permitted but the operational and fiscal environment imposes practical constraints. The permit transfer approval requirement means that acquisitions of DRC mining projects require CAMI's approval, which adds time and regulatory risk to transaction timelines.

The super-profits tax, the absence of a stability clause, and the royalty rates for strategic minerals are fiscal terms that affect the economics available to foreign investors regardless of their ownership percentage.