congo puts halt on mining permits

MGL.TSX (MOE)

Congo puts halt on mining permits
By Todd Flagg
02 Apr 2007 at 03:08 PM

The Democratic Republic of Congo has suspended all negotiations on future mining deals until a system is established to review existing contracts is created.

The move had been widely expected following the installment in early February of Congo's new government in the wake of historic elections last year in the former Belgian colony, which were won by incumbent President Joseph Kabila.

Any violations of the memo's orders would be subject to severe sanctions, including the possible revoking of contracts.

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