It`s about time that AVM is able to get some canadian media coverage...
2005-03-08 08:30 ET - In the News
The National Post reports in its Tuesday edition that Africa can be a risky
place for mining and exploration companies to set up shop. The Post's Carrie
Tait writes that miners, however, argue political risks can be mitigated, making
doing business in resource-rich Africa more palatable to Canadian companies and
their investors. Anvil Mining, which operates in Democratic Republic of Congo,
hedges its political risk by dealing with the communities that surround its
projects, rather than the central government. "We recognized very early that the
most significant political risk was local," says Anvil chief executive officer
Bill Turner. Unhappy locals living near the company's projects could cause more
problems than a civil war, he says. The community near Anvil's Dikulushi project
has a 10-per-cent equity stake in the project. Anvil opened a 7-room school in
December. "All this is part of the process to have good relations," says Mr.
Turner. "It's one of the most critical elements of operating in a country that
has an elevated element of political risk." Paradigm Capital analyst David
Davidson rates Anvil "speculative buy" and has a target price of $8.50.
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