KOLWEZI, DEMOCRATIC REPUBLIC OF THE CONGO, JULY 26, 2023 – Kamoa Copper S.A. has made a payment of US $ 644,301.52 available to local communities, through a specialized body, to fund community development projects. This amount corresponds to an initial payment of 10% of the endowment of the 0.3% of the company’s turnover for the 2022 financial year, in accordance with the mining laws and regulations of the Democratic Republic of Congo. The decision to pay 10% of the total amount was taken after the approval from the ministry of Mines.
Kamoa Copper S.A. remains committed to contribute to community development and therefore has made the necessary provision to pay the remaining 90% of 0.3% of its turnover for the year 2022, for payment before the end of 2023.
The endowment will be fully paid to Kamoa Copper S.A.’s specialized body – DOT KAMOA. This entity is responsible for managing and overseeing how the endowment will be spent on community improvement projects