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25th May 2012
GOLD 1571.60 $/oz
PLATINUM 1431.50 $/oz
R/$ exchange 8.39
R/€ exchange 10.49
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First Quantum sees DRC ruling as retaliation to Kolwezi arbitration
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http://www.miningweekly.com/article/first-quantum-sees-drc-ruling-as-retaliation-to-kolwezi-arbitration-2010-05-24
Article Headline:
First Quantum sees DRC ruling as retaliation to Kolwezi arbitration
Abstract:
Copper-miner First Quantum Minerals on Monday defended its mining rights for the Lonshi and Frontier copper mines, in the Democratic Republic of Congo (DRC), describing the latest challenge to its licences as an “orchestrated attack” in retaliation to its decision to start international arbitration over the cancellation of its Kolwezi project. Chairperson and CEO Phillip Pascall said in a webcast that the company was disappointed, adding that it believed a small group of influential players were driving the legal action and that did not necessarily reflect the views of the entire DRC government.
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