News from the initiative

Congo to Publish all Oil, Gas, Timber, Mining Contracts Online


$s Published: . Tagged in africa, Congo, DRC, extractive industries, gas, mining, oil, timber

© Reuters

According to a decree signed by both the Prime Minister and Ministers of Environment, Hydrocarbons, and Mines, all contracts in the Democratic Republic of Congo, involving mineral, timber, oil and gas concessions will be made public within 60 days of signing.

Officially ranked 175 out of 183 nations surveyed in the World Bank’s 2011 Doing Business Guide, Congo has been named as one of the most difficult places in the world to do business. As a country which has a third of the world’s cobalt, and is currently in the process of offering licenses for oil exploration, the World Bank has been pressing for Congo to increase transparency in its natural resource industry by making all contracts public.

Follow this link to view the contracts.

Source: News article by Michael J. Kavanagh, Bloomberg

Date: 31 May 2011

Comments are closed.