| |
Our future is aimed at the DRC- Simon Malone, Metorex.
In an interview on Radio 2000 @ 18:00 on Wednesday, 8 February 2006
[miningmx.com] -- SIMON Malone, chairman of Johannesburg-listed mining company, Metorex, said that the firm's focus was on its Ruashi copper/cobalt project in the Democratic Republic of Congo (DRC). Other future opportunities in the DRC would also be entertained.
He was speaking on the week nightly business show, the Moneyweb Power Hour, broadcast on Radio 2000.
“Inside the DRC, there are some enormously exciting projects. So we must keep looking at the DRC,” said Malone.
Malone was confident that the political risk factor that surrounds mining in the DRC was decreasing.
“The risk profile in the DRC is changing almost daily. You’ve got an election coming through in about May, June, out of which a presidential candidate will come," he said.
"The view is that you’ll have a government of national unity and the amount of interest in the DRC in the mining
projects is mind boggling,” he said.
Tom Carver, head of Control Risks Washington office, was optimistic stability in the country was increasing.
“The elections are coming in, the stability is increasing. I think the trend line is quite good for the DRC,” said Carver, who was also speaking on Radio 2000.
 The risk profile in the DRC is changing almost daily 
However, Carver did warn that on a “micro level”, the risks surrounding individual projects could vary considerably depending on the tribal conditions in the area as well as the history of the mines.
“The history of a mine is important because the issues that surround it could come back and haunt a company that takes over those mines,” said Carver.
| |