July 5, 2017 / 7:11 PM / 2 months ago

Congo to punish mining companies that fail to repatriate revenue

KINSHASA, July 5 (Reuters) - Democratic Republic of Congo plans to impose harsher punishments on mining companies that fail to repatriate at least 40 percent of their revenue from mineral exports, central bank governor Deogratias Mutombo said on Wednesday.

Mutombo told reporters at a news conference that the bank would begin inspecting companies' bank accounts abroad as part of the new push and would also seek to verify their ore output to eliminate fraud. (Reporting by Amadee Mwarabu; writing by Joe Bavier; editing by David Clarke)

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