SOUTH AFRICAN MINING Message Board

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Gold/Mining/Energy : SOUTH AFRICAN MINING

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To: dvid who wrote (223)	9/20/1998 3:44:00 PM
From: baystock	Read Replies (3) of 472

You don't need to scratch your head any more: BANRO ASKS $ 1 BILLION FROM CONGO FOR SEIZED GOLD MINING CONCESSIONS Toronto, August 27, 1998 -- Banro Resource Corporation's wholly owned subsidiary, Banro American Resources Inc., today initiated formal arbitration proceedings against the Government of the Democratic Republic of the Congo (DRC) seeking restitution for the sudden and unlawful expropriation of the Company's gold mining concessions in eastern Congo.... I am not sure whether it is really unlawful to expropriate assets. The DRC can just change their laws to make it legal. I don't believe there is any danger of this happening with RANGY. But that is the risk of investments in 3rd world countries. At least RANGY has their assets spread over several countries.

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