SYDNEY (Dow Jones)--Australia-listed copper producer Anvil...

SYDNEY (Dow Jones)--Australia-listed copper producer Anvil Mining Ltd. (AVM.AU) will
provide an update on its mining license review in the Democratic Republic of Congo within
the next 48 hours, the company secretary said Monday.
Anvil Mining, which is also listed on the Toronto Stock Exchange, entered a trading
halt on the Australian exchange Monday.
"We expect to be able to provide an update on the Democratic Republic of Congo
commission mining license review in the next 48 hours," company secretary Stuart
McKenzie said.
The Ministry of Mines in Congo is currently in the process of reviewing mining licenses
in the country after a commission found that none of the contracts had been properly
constituted.
Attention is focused on those licenses issued between 1996 and 2005. A leaked report
published in November on the Web site of a Kinshasa-based newspaper recommended that 38
contracts be amended, and 23 contracts be canceled entirely.
The leaked report said First Quantum Minerals (FM.T) and Anvil Mining (AVM.T) have
projects among the cancelations, while Nikanor PLC (NKR.LN), Katanga Mining Ltd. (KAT.T),
Lundin Mining (LUN.T) and AngloGold Ashanti (AU) would face amendments to their
contracts. The report sent companies' share prices sharply lower.