Yes it was a very interesting web cast. Whilst I wouldn't be surprised if the Chinese had a hand in this process, I would be more inclined to suggest the NGO world has had a bigger part to play. "Some" of the NGO's hold themselves up as great ethical and social organisations but we know that is simply not the case. They are a powerful lobby group with their own political interests to pursue.
It was also interesting to note from the broadcast that Anvil has disclosed all the information they have received from the govt. And as previously stated, had no official contact with the Commission. No submissions. Nothing.
Additionally there were no reasons outlining how the commission came to their decisions. Just a one page statement, we want...
Also interesting was that the world Bank offered their services to the DRC commission and that offer was declined.
The point also made that the current mining code does not have provisions for social plans yet they expect miners to have visable evidence. Anvil can easily show this, which makes the commissions comments particularly about Diklushi hard to understand.
Gecamines insisted that drilling in Kinsevere occur 12 months before the licence was signed was very unusual. They were privy to the drilling reports and mineral estimates, and as Bill said it was a greenfield site with no known reserves. Only an exhausted open pit. That agreement was based on Stage I.
The issue of completing a fesibility study first then sorting out equity positions, just doesn't happen anywhere in the world.
It would appear the review and findings by the Commission are terribly flawed and would probably not stand up to examination by a credible international entity.
Lets hope the mining community and other international organisations band together to sort out this mess.
KKR
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