DRC targets mining firm

The Supreme Court of the Democratic Republic of Congo withdrew a Canadian company's rights over two copper mines in the south of the country, Reuters reported. Vancouver-based First Quantum Minerals had obtained a letter from the Congolese ministry of mines giving the company the mining title rights, but the court ruled that the firm needed a decree, not a letter from the ministry. The state-owned Societé de Developpement Industriel et Minier du Congo is also claiming the mining rights. First Quantum Minerals' executives said they are disputing the ruling.

Published: Wednesday, 05/26/2010 12:00 am EDT

The Supreme Court of the Democratic Republic of Congo withdrew a Canadian company's rights over two copper mines in the south of the country, Reuters reported. Vancouver-based First Quantum Minerals had obtained a letter from the Congolese ministry of mines giving the company the mining title rights, but the court ruled that the firm needed a decree, not a letter from the ministry. The state-owned Societé de Developpement Industriel et Minier du Congo is also claiming the mining rights. First Quantum Minerals' executives said they are disputing the ruling.

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