Adopted Mning Code 2023
04 Aug 2023
On 4 August 2023, Burundi enacted a new Mining Code (Law No. 1/19), amending the 2013 legislation and allowing the resumption of mining activities suspended since July 2021. The updated Code signals Burundi's intent to develop its mining sector, particularly in gold, nickel, and rare earth minerals, and introduces key regulatory changes relevant to investors:
- State Participation: The State now holds a 15 per cent stake in all mining projects, ensuring government involvement and alignment with national interests.
- Production Sharing: A new production-sharing mechanism has been introduced, promoting a "win-win" principle between investors and the State.
- Licensing: The structured licensing system remains, with prospecting permits issued by the Minister of Mines. Legal entities must maintain a permanent address in Burundi to qualify.
- Compliance and Penalties: The Code includes stricter compliance measures, with 24 defined offenses and potential revocation of mining titles for non-compliance, particularly concerning environmental and operational standards.
Nature of measure:
Type:
-
Entry and establishment (Ownership and control)
Industry:
-
Primary (Mining and quarrying)
Inward FDI:
No
Outward FDI:
No
Sources:
