The Burundi Second Vice President of the Republic, Mr. Joseph Butore, met Tuesday, October 9, 2018, with the representatives of companies of the mining sector to discuss the prevailing situation with regard to the repatriation of foreign currency.
This meeting is part of the recommendations of the Council meeting Security Council, which took place on 26 September and called on the institution empowered to order in this mining sector, reports Burundi Press Agency.
Challenges in the mining sector to be addressed.
The second vice president of the Republic said that if mining companies refund their due in a week, they can resume their activities that have been suspended following this critical situation of repatriation of the currencies.
Remember that the suspension of activities cooperatives operating in the mining sector for a period of one month was launched by the National Security Council.
In response to this action, Mr. Butore commissioned an analysis of mining activities to identify the challenges that need to be addressed quickly for the smooth running of this very important sector for the national economy.
Mining companies urged to repatriate unpaid foreign currency.
Through this analysis, it appears that some exporters of ores, especially gold, have a very low currency repatriation rate. In all, 82.33% of recipes in foreign currency are still expected at the Bank of the Republic of Burundi (BRB).
At the end of this meeting, Mr. Butore noted that the meeting was very necessary, that the mining sector is very broad and very attractive, and it must be for the good of the whole country and all Burundians.
Some questions raised by Mines exploiters.
The analysis table was not disputed except that some exporters deplored the fact that that taxes have been revised upwards. Various problems have been raised, and the exploiters of the Minerals have wanted visits from the authorities on the ground.
For those who requested the resumption of activities as soon as possible, Joseph Butore agreed that
their request may be approved even within a week, provided they conform to the requirements set before them.
He also hoped that there would be a good collaboration between the Burundian Ministry of Mines,
the Burundi Revenue Authority and the Central Bank in Validation of Licenses export.
They were asked to do their job well so that there are no more discrepancies between the data related to the declarations of values at the level of the three institutions.
The Second Vice-President of the Republic concluded his recommendations by emphasizing that
the measure of temporarily closing the mining cooperatives was for the benefit of all and that the situation
must be normalized quickly for the effective resumption of activities.
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