Report - Mining Contracts Renegotiation in the Democratique Republic of Congo: Freeport-McMoRan and First Quantum Minerals Exposed

Wednesday, 22 July 2009 12:47 SARWATCH

Freeport ( Tenke Fungurume Mining) and First Quantum ( Kingamwanbo and Musonoi Limited) must renegotiate their mining contract with the Congolese government, says a report just released by the Southern Africa Resource Watch (SARW) and Congolese civil society
SARW, together with a group of Congolese civil society organsations, call on Freeport and First Quantum to renegotiate their mining contracts with the Congolese government in good faith in order to restore justice in the share of mining benefits with the Congolese people.

The two companies are resisting calls from the Congolese government to change the terms of their contracts. This deadlock is threatening the entire renegotiation process. Faced with the refusal to negotiate these two contracts, the Congolese government is unable to conclude the renegotiation process. There is a risk of other companies, which have already renegotiated their contracts, to not honour commitments they have already made. This situation shows the weak position of the Congolese. The Congolese government finds itself unable to deal with the resistance of the investors in the two partnerships.

in the two partnerships.

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Report - Mining Contracts Renegotiation in the Democratique Republic of Congo: Freeport-McMoRan and First Quantum Minerals Exposed

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