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no_bear

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Bureaucratic delay not unique to VZ

posted on Mar 15, 2008 08:00AM

Katanga governor criticizes plodding DRC mining review process

The governor of the mineral-rich Katanga Province complained Thursday that big mining companies are being unfairly punished by the slowness of the DRC mining contract review process.

Author: Joe Bavier
Posted: Friday , 14 Mar 2008

KINSHASA (Reuters) -

The slow pace of a government review of mine contracts in the Democratic Republic of Congo is holding up development of the nation's mining heartland, the governor of mineral-rich Katanga province said on Thursday.

Moise Katumbi told Reuters the delays in the review process were unfairly putting a brake on the investment plans of major mining companies active in Katanga, which holds the bulk of Congo's copper and cobalt reserves.

The vast former Belgian colony in central Africa set up a mining contract review commission last year after a new government took office following the holding in 2006 of the country's first democratic elections in more than four decades.

The process, which aims to overhaul deals agreed during the chaos of a 1998-2003 war and ensure a fair share of mining revenues for the state, was initially due to last six months. . . . .