Only as a layman investor, given the politics surrounding this situation, I feel (though those on the ground or otherwise better connected to the situation will know best) now that Glencore have found a way to ensure Dan Gertler receives his dues despite the US and other sanctions, at the same time extricating their own company from an asset endangering predicament, we may see a loosening of the strict almost militant application of the new/revised mining code ...perhaps Mr Kabila may be more receptive now Mr Gertler is looked after. Despite the very informative and accurate insights of other posters, I remain perplexed at the dormancy of the NZC SP, given how some other less endowed outfits are performing.....if we had a lot of shares on issue okay, but we have a nice tight structure and seem to be moving ahead, albeit not at breakneck speed, but in a measured and prudent way, as we should be.
In April, Gertler won a
Congo court ruling to seize almost $3-billion of
Glencore’s assets that could have seen the Israeli take control the company’s mines in the country. Paying Gertler is the only way to keep hold of the assets,
Glencoresaid in a statement Friday.
"Despite the sanctions, Gertler clearly remains a powerful fixer in the
Congo," said
Ben Davis, an analyst at Liberum. "A gatekeeper to the country’s cobalt riches."
EDITED BY: BLOOMBERG
http://www.miningweekly.com/article...e-to-buck-us-sanctions-2018-06-16/rep_id:3650
http://www.miningweekly.com/article...-asset-seizure-analyst-2018-06-15/rep_id:3650
