Tasa, what does this mean for LIN:
Congo halts mining negotiations for review process
Mon 2 Apr 2007, 13:31 GMT
[-] Text [+] KINSHASA (Reuters) - Democratic Republic of Congo is suspending negotiations on future mining deals in the mineral-rich central African country until a mechanism to review existing contracts is created, the minister of mines said.
"The minister ... instructs state administrators of the mining sector to suspend until fresh instructions all negotiation on new partnerships until after the government has launched a review procedure for existing contracts," Minister Martin Kabwelulu said in a March 27 memo seen by Reuters.
The move had been widely expected following the instalment in early February of Congo's new government in the wake of historic elections last year in the former Belgian colony, which were won by incumbent President Joseph Kabila.
In the March 27 memo, Kabwelulu ordered that details of all existing mining partnerships be delivered to his office by Wednesday, April 4 at the latest.
Any violations of the memo's orders would be subject to severe sanctions, including the possible revoking of contracts, the document said.
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