MMG Limited is set to launch international arbitration against Congolese state mining company Gecamines after Democratic Republic of Congo armed forces occupied two concessions near its Kinsevere copper mine.
MMG Limited is a mid-tier global resources company that mines, explores and develops base metal projects around the world. MMG’s largest shareholder is China Minmetals with 68% According to the firm, armed forces entered its Nambulwa mining lease on Sept. 16 claiming Gecamines had signed a research contract for it. MMG staff were able to return to site and continue work from Sept. 28 but the armed forces remained there.
International arbitration
The Hong Kong-listed firm added that security forces removed MMG staff from its Sokoroshe II mining lease on July 1, again citing two research contracts for the area with third parties signed by Gecamines.
“We intend intends to commence international arbitration in the International Chamber of Commerce in Paris and Geneva. MMG continues to be denied access to Sokoroshe II, which it plans to mine along with Nambulwa as part of an expansion of its Kinsevere operation. We continue to make formal requests to both Gecamines and the ministry of mines for Gecamines to withdraw the agreements with third parties and remove the armed forces and third parties from the sites,” said majority owned by China MinMetals, said in a statement.