Friday, February 08, 2008

Mining Review Process to be Accelerated

Congolese deputy mining minister Victor Kasongo announced last week that the Democratic Republic of Congo (DRC) will accelerate the mining review process. The commission set-up to review the contracts submitted the final report to the government since the Fall of 2007. However, the government has yet to move on the prescriptions outlined by the review commission. Leaked reports indicated that the commission recommended that the 61 contracts under review ought to be renegotiated or outright canceled. The mining minster revealed that "We had expected to be able to concentrate our efforts on rectification of a few contracts. We actually found that we had [not a single contract that was properly constituted]. What was meant to be a minor corrective has turned out to be multiple, major surgery.”

The results of the review process will be announced in two weeks according to the government. Companies will have three months to address the concerns raised in the review. Congolese politicians have raised concern that the report has not made it to parliament for its input as this issue is of central concern to the people of the Congo.

2 Comments:

At 10:10 AM, Blogger invest said...

WAS THE DRC RUASHI MINING TRANSACTION EXPLOITED ?

In July 2000 Cobalt Metals Company (CMC) signed a Contract with Gecamines for the DRC Ruashi Mining Rights and License PE 578 was awarded to CMC, little did the DRC Government or Gecamines checked whether CMC had the finances and abilities to start mining, behind CMC was a notorious convicted criminal a man exposed in 2003 by the UN Security Council exploiting the DRC Mineral Wealth, Mr.Niko Shefer.
Shefer being very closed friends with DRC Government Ministers and high ranking officials had only one thing in mind, that was to sell the Ruashi Mining License PE 578 to any other mining company and pocket millions of dollars, Shefer then hooked Metorex Ltd a South-African Mining company who collaborated with Shefer to hide his identity and agreed to pay Niko Shefer more than $ 60 Million US Dollars through Shefer`s front company Sentinelle Global Investments, Shefer via CMC ,,transferred,, the CMC Shares which held the Ruashi Mining License to the other company Metorex had namely Ruashi Holdings (Pty)Ltd, Metorex had openly denied that they had no agreement with the DRC Government nor Gecamines in a sworn affidavit obtained by us in a court case and openly denied under oath that they had no obligation to pay the DRC Government or Gecamines any taxes and royalties, a few aggrieved shareholders of CMC who Shefer has defrauded from millions of investments now question the legality of this Metorex Ltd and Sentinelle Global Investments transaction where Metorex paid Shefer millions of US Dollars with such payments cleverly diluting Sentinelle`s shares in Ruashi Holdings, CMC Shareholders now question why Metorex paid Shefer those millions of dollars without signing any agreements with the DRC Government, it seems that the DRC Government and Gecamines were openly defrauded whilst Shefer walked away with millions and the DRC Citizens were yet again exploited by Shefer, the question is why did Metorex Ltd as a JSE Listed Company used a criminal to get a mining license in the DRC and not approached the DRC Government itself?, and paid that criminal also millions of dollars?

Many CMC Shareholders were defrauded by Shefer who actually has the majority shares in CMC, and Shefer never obtained their permission to sell this mining license to Metorex.
International Organisations must investigate this Metorex Ruashi Transaction and revoke this PE 578 Mining License and claim back the millions of US Dollars Shefer got from just selling the license he very questionably obtained on July 2000 from Gecamines.

By an aggrieved CMC Shareholder who refused to sign the Metorex non-disclosure agreement to silence this matter.

 
At 2:16 AM, Blogger akrotiri said...

To aggrieved CMC Shareholder (INVEST)
Please contact and send your references to: BOB LAXTON, Labour party MP.DERBY.UK.
He has been advised of concern regarding NICO SHEFER,MR DOUW VAN DER MERWE VILJOEN and those that contol their South African mining companies. METOREX LTD.
Fraud structures operating L.S.Exchange, N.Y.S. Exchange and J.S.E Mining companies who have also used NICO SHEFER to obtain DRC Mining rights for British Mining Company BRINKLEY MINING PLC.
How does an ex Head of the SCORPIONS become a director in BANDY INVESTMENTS LTD, a mining company controlled by NICO SHEFER and D.VD.M.VILJOEN.
or
ZODWA MANASE become a non executive Director of BRINKLEY MINING PLC.
Now isn't it strange she is a top director of the SOUTH AFRICAN RESERVE BANK, A head in the IRBA.
INDEPENDANT REGULATORY BOARD OF AUDITORS.
Now isnt that strange that Mr DOUW VAN DER MERWE VILJOEN is a major role player in most of these mentioned mining companies.
Is Mr Viljoen a mining engineer,no
HE IS AN AUDITOR, How very strange.

Why dont you have a look at this nice South African Gent.
Mr CHRISTOFFEL PETRUS DU TOIT
His RSA ID 5511075093089
I think his past employement and business involvement with MR D.VD.M VILJOEN will reveal an exteme amount of excrement.

Concerned,defrauded and lied to.

 

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