Lundin Mining Corporation investigating newswire reports regarding Tenke Project
Fri. August 29, 2008; Posted: 07:05 AM
Aug 29, 2008 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Lundin Mining Corporation (Toronto: LUN.TO) (NYSE:
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PowerRating) (OMX: LUMI), an
explorer, extractor and processor of base metals, reported yesterday
(28 August) that it has not received official notification of any
change in government attitude and is investigating newswire reports of
comments attributed to various Democratic Republic of Congo officials
regarding the Tenke Project.
The Ministry of Mines, Government of the Democratic Republic of Congo
(DRC), sent a letter to the company on 19 February 2008, pertaining to
the review of mining contracts in the country. The letter was addressed
to Tenke Fungurume Mining SARL, the entity in which the company has an
equity investment of 24.75% and which is developing the mine.
Management has signed all agreements legally with the government of DRC
and it believes the overall fiscal terms negotiated and incorporated
into the Amended and Restated Mining Convention exceed the requirements
of the Congolese Mining Code.
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