The Democratic Republic of Congo government has ordered the shutdown of the Frontier copper mine belonging to Vancouver's First Quantum Minerals and seized all the company's assets in that country. Although the Congo has rich and tantalizing mineral resources, the government's action adds considerably to the risks of doing business in that country. Would you invest in mineral exploration and development in the DRC?
Vote either "yes" or "no" by going to the Hot Topic Opinion on our web page at www.CanadianMiningJournal.com. Your comments are always welcome.
Last week we asked our readers if they could survive four months - or more - underground as the trapped miners must do in Chile. CMJ readers must be made of stern stuff. All but one said they could survive that length of time.
Comments
Frank Williams
Reading about the situation in the DRC generates intense feelings of frustration for the average honest investor as it is obvious that if First Quantum had paid the bribes in 2007 their problems would have been mitigated, this however is not acceptable. My losses may be great to me but of course mean nothing to blood diamond merchants and corrupt heads of state. To answer your question, I will never knowingly invest in the DRC again. What goes around, comes around and the DRC will eventually wish they had chosen a different path.
Bill Wolfe
Who would invest in the DRC? Investors in Taseko Mines may yet be asking themselves the same question about British Columbia if Federal regulators decline to approve the Fish Lake copper mine plan.
Bert Savage
I lost money on a junior that eventually sold high a grade copper discovery to a Chinese company.
China has funded major rehabilitation in the DRC.(power and rail)
Perhaps they will be the only one left to benifit from the rich mineral discoveries ??? Are they one step ahead of the rest of us?
JAMES
Following the recent attacks on Firts quantum Properties in DRC leaves much to be desired and i don’t believe one can risk invest in such a country where rule of law is not respected. FQM was the only company that paid a lot of money (million Dollars) in taxes, all this is not considered,The compnay is closed leaving over a thousand employees without jobs , the economy affected ,government lossing revenue and there is no company in DRC which will pay it’s workers the way FQM did. They had free transport to and from , free health care paid for by the company , free meals and there is a lot that FQM has done in the communities around the town of sakania, everyone is driving in sakania.