Ivanhoe Mines (IVPAF) experienced a steep share price decline that was caused by an increased political risk in the Democratic Republic of Congo. On Wednesday, a law that will lift the taxes and royalties on industrial and precious metals was sent to President Kabila. The law also introduces a 50% super-profit tax. According to Bloomberg, the new law involves:
- An increase of copper royalties from 2% to 3.5%,
- an increase of cobalt royalties from 2% to 3.5% and to 5% if the government categorizes cobalt as a strategic mineral (this proposal was later increased