Canadian and UK companies go head-to-head over deal
The “spat” between two foreign mining outfits, over which¬† should control one of DR Congo’s most important copper lodes, has escalated – to the point that one of them is taking the other to court. Siding with London-listed Kazakhistan-based ENRC is the Congolese government, which has now effectively nationalised the project.
Meanwhile , the aggrieved party, Canada’s First Quantum, has protested to the UK’s Financial Services Authority, calling for an independent review. The company also accuses two of ENRC’s high-profile British non-executive directors of failing to exercise due diligence over the deal.