4 February 2008
Press Release
Time for authorities in Europe and North America to act
At the start of the Mining INDABA conference in Cape Town, an international coalition of non-governmental organizations warns that the DRC’s mining contract review process has been hijacked. NGOs say that it is increasingly apparent that new deals are being struck behind closed doors despite the lack of completion or transparency in the review process. The NGOs cite the announcement on 28th January that rights to two mining concessions previously held by the Katanga Mining Company have been transferred to China’s Sinohydro Corporation and the China Railway Engineering Corporation as part of the deal for the $5 billion loan from China’s Exim Bank. NGOs would like the DRC Government to explain when and how this decision was reached.
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