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New Report Proposes Economic Rationale for Renegotiating Key Mining Contracts in the DR Congo

Author: Rights and Accountability in Development (RAID), Published on: 12 April 2007

On the eve of the World Bank and IMF Spring Meetings, RAID released a report today that proposes an economic rationale for renegotiating some of the key copper and cobalt mining contracts in the Democratic Republic of Congo (DRC). By way of illustration, “Key Mining Contracts in Katanga: the economic argument for renegotiation”, analyses Katanga Mining Ltd’s Kamoto contract... Patricia Feeney, executive director of RAID [said,] “Our hope is to also stimulate a debate on the distribution of the economic benefits and costs of all joint venture agreements”. [also refers to Gecamines; executive summary refers to contracts with Kinross Forrest (now Katanga Mining - joint venture Kinross Gold & George Forrest), Global Enterprises (GEC, now Nikanor), consortium of Phelps Dodge (part of Freeport McMoRan) & Tenke Mining (part of Lundin Group)]

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Related companies: Freeport-McMoRan Gécamines Katanga Mining Kinross-Forrest (part of Katanga Mining) Lundin Mining Nikanor Phelps Dodge (part of Freeport-McMoRan) Tenke Fungurume (joint venture China Molybdenum, BHR Partners, Gécamines)