ID :
183429
Sat, 05/21/2011 - 07:46
Auther :
Shortlink :
https://oananews.org//node/183429
The shortlink copeid
MSC LOOKING TO EXPLORE TIN AND RELATED MINERALS IN CONGO
KUALA LUMPUR (Bernama) - Malaysia Smelting Corporation Bhd (MSC) has entered into a Confidentiality Agreement with the Ministry of Mines of Congo.
The agreement, signed in Kinshasa Thursday, was in connection with the disclosure of confidential information on certain prospective tin mining areas for a possible joint venture cooperation in exploration and development of tin and related mineral resources in Congo, MSC said in an announcement to Bursa Malaysia, Malaysia's stock exchange.
It said the MSC management had an audience with the President of Congo, Joseph Kabila Kabange, together with the Minister of Mines, Martin Kabwelulu.
It said the President expressed his wish for MSC to assist in sustainable development of the tin industry in Congo that would bring socio-economic benefits to the local communities as well to overcome the negative image and perception of the country’s mining industry.
"Congo is currently faced with ‘conflict mineral’ issues which have
disrupted the livelihood on thousands of people who rely on small-scale and artisanal mining," it added.
The discussions with the Government of Congo also enhanced collaborative efforts to improve the effective implementation of the due diligence process and transparency system under the International Tin Supply Initiative (iTSCi) scheme, it said.
Kabwelulu and delegation from Congo had in April visited the MSC
Group mining operations and smelting facilities in Malaysia and Indonesia, and were encouraged by the experience and capability that MSC has to offer.
"The follow-up visit to Congo by the MSC team is a further step forward towards entering into a possible joint venture in the exploration, mining, smelting and marketing that would enhance the Company’s long term growth in the tin industry," it said.
MSC’s smelting facility in Butterworth has, for many years, been receiving Congo tin concentrates which contributed about 15 per cent of the total metal produced in 2010.
The agreement, signed in Kinshasa Thursday, was in connection with the disclosure of confidential information on certain prospective tin mining areas for a possible joint venture cooperation in exploration and development of tin and related mineral resources in Congo, MSC said in an announcement to Bursa Malaysia, Malaysia's stock exchange.
It said the MSC management had an audience with the President of Congo, Joseph Kabila Kabange, together with the Minister of Mines, Martin Kabwelulu.
It said the President expressed his wish for MSC to assist in sustainable development of the tin industry in Congo that would bring socio-economic benefits to the local communities as well to overcome the negative image and perception of the country’s mining industry.
"Congo is currently faced with ‘conflict mineral’ issues which have
disrupted the livelihood on thousands of people who rely on small-scale and artisanal mining," it added.
The discussions with the Government of Congo also enhanced collaborative efforts to improve the effective implementation of the due diligence process and transparency system under the International Tin Supply Initiative (iTSCi) scheme, it said.
Kabwelulu and delegation from Congo had in April visited the MSC
Group mining operations and smelting facilities in Malaysia and Indonesia, and were encouraged by the experience and capability that MSC has to offer.
"The follow-up visit to Congo by the MSC team is a further step forward towards entering into a possible joint venture in the exploration, mining, smelting and marketing that would enhance the Company’s long term growth in the tin industry," it said.
MSC’s smelting facility in Butterworth has, for many years, been receiving Congo tin concentrates which contributed about 15 per cent of the total metal produced in 2010.
