Congo sets miners deadline to analyse mining review
By Joe Bavier
19 February 2008
Source:Reuters News
KINSHASA, Feb 19 - A government commission reviewing mining contracts in Democratic Republic of Congo has given companies until Feb. 26 to analyse its findings, its chairman said on Tuesday.
Congo's Mines Ministry announced on Monday that it had completed the long-delayed review of 60 mining contracts and said the results were now available to companies.
"They will have one week to analyse the report ... They will have until the 26th," Alexis Mikandji told Reuters, but declined to say what would happen after the one-week period.
In a statement released on Monday, Deputy Mines Minister Victor Kasongo said Congo would institute a "brief and open" appeal process.
"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," he said.
Companies contacted by Reuters on Tuesday said they had yet to receive the results of the review.
The contracts under scrutiny include deals with international mining companies such as Freeport McMoRan Copper and Gold Inc , BHP Billiton , and Katanga Mining Ltd.
"We have not received it, and none of the other mining firms have seen it as far as I understand," said Robert Eriksson, spokesman for Lundin Mining Corp, which holds a stake in the giant Tenke Fungurume copper and cobalt project.
Mikandji said the commission's findings had not been transmitted directly to companies, but were instead sent to Congo's mining parastatals.
"We decided to send them to (state copper miner) Gecamines, (gold mining parastatal) Okimo, etc, so that they could share them with their partners," he said.
"They are currently in possession of these documents."
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