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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (33703)	3/3/2009 9:53:09 PM
From: LoneClone	Read Replies (1) of 193842

Anvil Mining slams Congo 'review' Peter Koven, Financial Post Published: Tuesday, March 03, 2009 financialpost.com The chief executive of Anvil Mining Ltd. said the infamous mining "contract review" in the Democratic Republic of Congo has taken longer than it should have and shaken investors. "It has impacted the investment climate," Bill Turner said in an interview, though he did add that companies that have completed the review fairly are pleased with the outcome. The review, which began back in 2007, hampered Anvil as it looked to raise US$200-million in debt financing for its Kinsevere stage two project. Now that it has reached agreement with the DRC on Kinsevere, Mr. Turner is confident that Anvil can raise the money. For investor confidence to return to the DRC, Mr. Turner suggested that a couple of the new copper mine developments have to be successful. The DRC has phenomenal mineral wealth, but the political risk has frightened away countless investors.

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