Congo Mining Giants Under Fire Over Massive $17B Revenue Discrepancy

A state audit in the Democratic Republic of Congo has uncovered a staggering $16.8 billion discrepancy in mining revenue declarations between 2018 and 2023,raising serious concerns about transparency and accountability in one of Africa’s richest resource nations.

According to the Court of Auditors’ June report,mining companies declared $98.2 billion in revenue to tax authorities but reported only $81.4 billion to the agencies responsible for calculating mandatory community development contributions. Under Congo’s 2018 mining code,0.3% of company revenue must go toward local development — funds meant to support schools,clinics,and water infrastructure in mining regions. The shortfall amounts to $50.4 million in lost contributions for community development.

Among the firms implicated are industry giants such as Glencore’s Kamoto Copper Company,CMOC’s Tenke Fungurume Mining,Ivanhoe’s Kamoa-Kakula,Sicomines,Eurasian Resources Group’s Metalkol,and Ruashi Mining — which together account for around $10 billion of the discrepancy. While Glencore defended its compliance,citing differing legal interpretations,most companies declined to comment. “Practically,70% of the companies did not respect this regulation,” said Attorney General Jean Chris Mubanga Musuyu,calling it a major loss for the state and mining communities.

Civil society groups warn that the underreporting undermines efforts to use Congo’s vast cobalt and copper wealth for community advancement and economic empowerment. “If this is well managed,it will improve lives on the ground,” said Emmanuel Umpula Nkumba of Afrewatch. The Court of Auditors has recommended suspensions,prosecutions,and stricter oversight to address the systemic failures. According to Discovery Alerts,“Congo’s experience highlights common challenges in resource revenue transparency that affect numerous resource-rich developing nations globally.”