HomeCentral AfricaDRC tin exports to resume

DRC tin exports to resume

Mining for tin
ore or the DRC
Kinshasa, DRC — MININGREVIEW.COM — 04 September 2008 – Tin exports from the Democratic Republic of Congo (DRC) – Africa’s biggest producer of the metal – are expected to resume in the wake of a tax dispute which has halted shipments of the product for two months.
“Most probably we’ll be starting exportation today,” John Kanyoni, president of the Association of Traders of Minerals of North Kivu – told Bloomberg News in a telephone interview from the Kenyan capital of Nairobi.

Exports of the tin ore – known as cassiterite – were halted in the east of North and South Kivu provinces in early July, after authorities in the DRC more than tripled the reference price for the ore to US$14 a kilogram, which they taxed at 11%. North Kivu accounts for three-quarters of the country’s tin shipments.

The central African country’s mining and finance ministers resolved the situation last month by signing an order fixing export duties for tin at 5% of the London Metal Exchange price.

“The traders have now received a new reference price, which was based on last week’s LME figure,” Kanyoni said, “and they are now ready and willing to end their strike and start exports immediately.”