FACTBOX-Mining in the Democratic Republic of Congo

Wed May 14, 2008 12:39pm BST
 
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May 14 (Reuters) - Power shortages threaten to slow mining development in Congo and drive up project costs in one of the world's richest copper and cobalt regions. [ID:nL14775869]

Here are details of some of the main projects in Democratic Republic of Congo and the companies running them.

ANGLO AMERICAN (AAL.L: Quote, Profile, Research) (AGLJ.J: Quote, Profile, Research)

The world's fourth biggest mining group by market capitalisation has opened offices in the capital Kinshasa as well as the city of Lubumbashi in the country's copper belt.

Anglo will be exploring in Congo and at least seven other African nations to look for large base metals deposits. Chief Executive Cynthia Carroll said in February the company would jack up its exploration budget on the continent by 30 percent this year.

AFRICO RESOURCES (ARL.TO: Quote, Profile, Research)

Canadian company Africo is seeking to develop the Kalukundi copper-cobalt project, but its ownership of the project has been disputed by Akam Mining.

In September, the firm said Congo's justice minister supported its ownership position and in November the IFC, the World Bank's private sector investment arm, said it planned to buy C$4 million in Africo shares to help finance the project.

ANGLOGOLD ASHANTI (ANGJ.J: Quote, Profile, ResearchContinued...

 

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