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RPT-BHP, AngloGold to respond to Congo mining review

Thu Feb 21, 2008 10:02pm IST
 
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LONDON, Feb 21 (Reuters) - Miner BHP Billiton (BLT.L: Quote, Profile, Research) (BHP.AX: Quote, Profile, Research) is holding talks with Congolese officials and AngloGold Ashanti (ANGJ.J: Quote, Profile, Research) to put together a response following a sweeping review of mining contracts, the firms said on Thursday.

The Mines Ministry in the Democratic Republic of Congo said on Monday it had completed the long-delayed review of 60 mining contracts, but did not provide details of the recommendations.

Both firms said they had received a report, but declined to say what changes, if any, the government demanded.

The former Belgian colony set up a commission to review the contracts last year after a new government took office following the first democratic elections in more than four decades in 2006.

"I can confirm that we have recently received notification and are in ongoing discussions with the Ministry of Mines with regards these matters," BHP spokesman in London Illtud Harri said.

BHP, the world's largest mining group, is exploring for copper and diamonds in Congo and said last year it was in the early stages of looking at an aluminium smelter project.

AngloGold, which has been drilling for gold at Mongbwalu in Congo's northeastern Ituri region since 2005, also said it had received a report about the review.

"I can confirm that we have received a communication from government, and that we are formulating a response which we expect to submit by the end of the month," AngloGold spokesman Alan Fine said.

The process, which aims to clean up deals agreed during the chaos of a 1998-2003 war and ensure a fair share of mining revenues for the state, has been repeatedly delayed.  Continued...

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