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World Bank to support Republic of Congo in mining development

04 October 2013, 17:26

 Brazzaville - In an effort to diversify the economy, the World Bank is set to support the Republic of Congo in the development of the mining sector, the bank official, Sylvie Dosso Kouame, said.

Kouame made the statement in Brazzaville at the opening of the first international conference on mines in Congo.

"It is an honour to have this opportunity to reaffirm the bank's willingness to support the Republic of Congo in its efforts to diversify its economy and manage its natural resources.

"The government's decision to identify the mining sector as a priority sector is a very important one because the Republic of Congo can effectively become a major power in the mining industry both on the African and world stage and significantly stimulate the non-petroleum economy,’’ she said.

The bank’s representative said that the eventual strategy of promoting the mining sector would contribute towards development and reduce poverty in the country.

Kouame urged the Congolese government to revise its legal and taxation laws on the mining sector.

This, she said, would help to consolidate the progress achieved since the coming into force of the mining code in 2005.

Regarding negotiations in the mining sector, the World Bank official pointed out the need for the state to have the necessary expertise when negotiating contracts with mining companies.

The two-day conference was organised by the Republic of Congo's Mines ministry in partnership with Ametrade Ltd., to bring together participants from Africa and elsewhere to promote opportunities in the Congolese mining sector.



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