DRC completes review of mining contracts

The Democratic Republic of Congo (DRC) has given mining companies in the country until 26th February to analyse the findings of a Government commission set up to reviewing mining contracts.

The DRC’s Mines Ministry has this week completed a review of 60 contracts, after a series of lengthy delays and the findings are now available to the companies concerned.

This means miners involved in the review will have only one week to consider the implications of the report and frame a response.

Deputy Mines Minister Victor Kasongo has promised a “brief and open” appeal process, stating: “We have been working to find ways in which companies can appeal the process without the delays, costs and confrontation inherent in litigation and international arbitration.”

The companies subject to the review include international miners, such as Freeport McMoRan Copper and Gold Inc and Katanga Mining.

DRC set up the commission to review the contracts last year, following the installation of a new Government in 2006, heralding the first period of democratic rule in the country in over four decades.

The contracts have been scrutinised to ensure their terms were not based on corrupt deals with earlier policital regimes.