19 July 2012
This report sets out the history of CAMEC’s listing on the London Stock Exchange’s Alternative Investment Market (AIM) in the context of the unresolved legacy of the wartime mining contracts awarded by the government of the Democratic Republic of the Congo (DRC). The DRC’s lucrative minerals sector is beset by the continuing problem of corruption, which blights the well-being and future prospects of the Congolese population. The RAID report is the first systematic examination of the extent to which corporate conduct in zones of conflict is taken into account by stock market regulations, and of whether existing rules are adequately enforced. Inadequate due diligence, both before and after admission to AIM, is one of the major failings identified in the report.
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