HomeBase MetalsDRC contract deadline extended

DRC contract deadline extended

One of the foreign
mining operations in
the DRC – Anvil’s HMS
plant in the Kolwezi
area of the DRC
Kinshasa, DRC – MININGREVIEW.COM — 30 September 2008 – The Democratic Republic of Congo (DRC) has extended the deadline for the review of mining contracts in the country from the original target date of today to 16 October.

Bloomberg News quotes Mines Ministry chief of staff Alexis Mikandji as saying: “The talks between the DRC’s state-owned mining companies and their partners are continuing. It will be around 16 October that we finish,” he told the news agency in a telephone interview from Kinshasa.

Bloomberg reports that the DRC – which has a third of the world’s cobalt and 4% of all copper – is seeking to boost revenue from mining by improving the terms of contracts with mining companies more in the government’s favour. The government is reviewing 61 deals, including those with Freeport-McMoRan Copper & Gold Inc. – the world’s largest publicly-traded copper producer, and AngloGold Ashanti – Africa’s biggest gold miner.