Kalukundi copper/cobalt swindle reversed?
Kalukundi copper/cobalt swindle reversed?
Mineweb - Johannesburg,South Africa
The would-be swindle of Kalukundi, one of the world's highest grade medium size copper cobalt mines, appears that it could be over. Africo Resources (ARL.T, C$1.18 a share), 75% owner of Kalukundi, has released the contents of a letter received on September 12 2007 from Democratic Republic of the Congo justice minister Georges Minsay Booka, effectively directing that the would-be swindle is terminated. The letter is addressed to the chairman of DRC copper cobalt parastatal Gécamines, and copied to the DRC president, prime minister, and first president of of the superior court in Lubumbashi (capital of Katanga Province, where Kalukundi is located), among others. The letter advises Gécamines to take note that Akam Mining, which has claimed ownership rights to Swanmines (holder of the Kalukundi asset), had in fact bought non-existent shares in Swanmines. The letter reinforces that the rightful owners of Swanmines as the H&J Swanepoel Famille Trust, and Gécamines. H & J Swanepoel Famille Trust is held 100% through various subsidiaries by Africo ... on August 13, the Supreme Court of Justice in Kinshasa effectively referred the various Kalukundi matters back to the Lubumbashi courts. The Supreme Court in Kinshasa had been presented with a case of alleged judicial misconduct against three judges of the Tribunal de Grande Instance de Lubumbashi ... Africo Resources and its Kalukundi deposit in the Katanga Province is on its way to becoming one of the world's most celebrated medium sized mines. The company is projecting initial production of 16,400 tons of copper and 3,800 tons of cobalt a year, at a conservative profit margin around 50%. The copper-equivalent grade (including cobalt as a co-product) is an astonishing 8.9%. The deposit, moreover, offers oxides, the most prized and malleable ore of all ...
Mineweb - Johannesburg,South Africa
The would-be swindle of Kalukundi, one of the world's highest grade medium size copper cobalt mines, appears that it could be over. Africo Resources (ARL.T, C$1.18 a share), 75% owner of Kalukundi, has released the contents of a letter received on September 12 2007 from Democratic Republic of the Congo justice minister Georges Minsay Booka, effectively directing that the would-be swindle is terminated. The letter is addressed to the chairman of DRC copper cobalt parastatal Gécamines, and copied to the DRC president, prime minister, and first president of of the superior court in Lubumbashi (capital of Katanga Province, where Kalukundi is located), among others. The letter advises Gécamines to take note that Akam Mining, which has claimed ownership rights to Swanmines (holder of the Kalukundi asset), had in fact bought non-existent shares in Swanmines. The letter reinforces that the rightful owners of Swanmines as the H&J Swanepoel Famille Trust, and Gécamines. H & J Swanepoel Famille Trust is held 100% through various subsidiaries by Africo ... on August 13, the Supreme Court of Justice in Kinshasa effectively referred the various Kalukundi matters back to the Lubumbashi courts. The Supreme Court in Kinshasa had been presented with a case of alleged judicial misconduct against three judges of the Tribunal de Grande Instance de Lubumbashi ... Africo Resources and its Kalukundi deposit in the Katanga Province is on its way to becoming one of the world's most celebrated medium sized mines. The company is projecting initial production of 16,400 tons of copper and 3,800 tons of cobalt a year, at a conservative profit margin around 50%. The copper-equivalent grade (including cobalt as a co-product) is an astonishing 8.9%. The deposit, moreover, offers oxides, the most prized and malleable ore of all ...