DRC ready to renegotiate mining contracts
by Gill Montia

Foreign mining companies operating in the Democratic Republic of Congo (DRC) have been told that the country’s government is now ready to begin renegotiating their contracts.
In an interview with news agency, Reuters, DRC deputy mines minister, Victor Kasongo, confirmed that the long-delayed process will commence in mid-July.
Around 60 contracts, many of which were awarded during the country’s war-torn past, are under review.
BHP Billiton, Freeport McRoRan Copper & Gold and De Beers are among those affected.
DRC set up a commission to review the contracts last year, following the installation of a new Government in 2006, which heralded the first period of democratic rule in the country in over four decades.
The contracts have been examined to ensure their terms were not based on corrupt deals with earlier political regimes.
The commission reported its findings to individual mining companies in February of this year and invited their responses before moving into the renegotiation process.
Related posts to: DRC ready to renegotiate mining contracts
Golden Share Mining hires new CFO ...
Tanzania to review mining contracts ...
DRC completes review of mining contracts ...
BHP Billiton and AngloGold remain silent on DRC contract review ...
Antam clarifies on buying PTFI ...
Latest Metals News:
Gold ends session lower in New York, but gains on week
Gold prices retreat after setting new intraday high
Gold closes at $1,666 per ounce in New York trade
Gold prices at new records on disappointing US data
Gold prices lower but comes off session lows on manufacturing data
Gold sets new intraday, closing highs to end trading week in New York
Copper rises; precious metals prices see declines
Gold prices drop on profit-taking, stronger US dollar
$1,616.80 per troy ounce: Another record high for gold
Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Agricola updates on the Ballek joint venture
Next: Vena commences underground development at Pucara project »
Visited 1644 times, 2 so far today