holy maria

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http://www.minesite.com/minews/singlenews/article/government-of-drc-revokes-diamond-licences-of-small-companies-which-have-not-complied-with-regulati/1.html

December 21, 2006
Government of DRC Revokes Diamond Licences Of Small Companies Which Have Not Complied With Regulations


An interesting note has appeared from analyst John Meyer at Numis Securities which confirms that First Quantum Minerals is not on the Congo Government list to have any mining licences revoked. Many investors will not be aware that there was such a possibility, and it turns out today's statement is principally aimed at small diamond companies which have not maintained payments for licences. The Congo operates a 'use-it-or-lose-it' policy with regard to licences. Congolese Minister of Mines Mathieu Kalele has said in an interview with Dow Jones that 45 mines of 75 operating in the DRC have been given a five-day deadline to comply with environmental and social laws, or be stripped of their mining licences.