[miningmx.com] – SOUTH Africa’s Industrial Development Corporation (IDC) is to buy a stake in Alphamin Resources – its first investment in the Democratic Republic of Congo’s mining industry since 2010, said Bloomberg News.
Alphamin said it was in “advanced negotiations’ for the the IDC to invest in its Congolese unit. “No definitive agreements have been entered into in respect of the financing and there can be no assurance that the financing will be completed,’ the company said in a statement to the newswire.
Alphamin is developing the Bisie tin mine in Congo’s eastern North Kivu province, where armed groups have controlled the area’s biggest mine on and off for years. “We did our due diligence,” Abel Malinga, head of mining and metals at the IDC, told Bloomberg News. “We never run away from challenges.”
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