Economie

MMG Says Armed Forces Remain at Site of Nambulwa Mine

MMG’s Nambulwa mine in Democratic Republic of Congo has been occupied by armed forces, who claim that the government-owned mining company Gécamines has signed a research contract for the area with a third party even though MMG has a registered interest over the lease, according to statement to Hong Kong stock exchange.
* MMG’s employees and contractors were evacuated from the site on Sept. 28; They were able to return and continue to work from Sept. 28 though the armed forces remain * Co. continues to make formal requests to both Gécamines and the DRC Ministry of Mines for Gécamines to withdraw the new
agreements with third parties, and to remove the armed forces and third parties from the sites
** Gécamines has “purported to suspend, or allege the breach of, agreements held by MMG” on Sokoroshe II, Nambulwa and Mwepu sites that co. contests * MMG says it will take all necessary steps to defend its legal rights and plans to commence international arbitration in the International Chamber of Commerce

BN/LPC

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