Interesting recent synopsis from August Cohen on X:
"I absolutely agree that time is running out for the parties to this drama to resolve this situation amicably. But, to be very clear, what will never change are the facts of the case, which you do not seem to know or fully understand. Yes, it's true that AVZ took 5 years to develop a project which is located in a particularly inaccessible part of the Congo. But it is also a fact that it requested and successfully obtained the extensions from the Ministry of Mines to which it is entitled under article 77 of the Mining Code and the conditions set out in articles 37 to 42. But it is also a fact true that, despite the authorization of these extensions for these 5 years, the Ministry of Mines revoked the exploration permit on the grounds that AVZ had not respected the prior deadlines, which contradicted its own authorizations to extend these time limit. Additionally, the ministry did not follow several procedures set out in the Mining Code before issuing a revocation. For example, the Department of Mines must produce a report that clearly documents that an exploration permit holder has failed to meet agreed deadlines and any extensions and make it available to the permit holder. Well, where is the report on AVZ? In a few weeks, the arbitral bodies in Paris and Washington DC will be confronted with these facts against the claims of the parties. It will evaluate the evidence against the claims, make a decision that either party has breached its contractual obligations to each other, and award damages likely in excess of $1 billion to be paid by the party loser. For the sake of the Congolese people, I hope that the DRC government will avoid indulging in the lies and insults that have characterized your responses in this thread, because the arbiters do not care about feelings, geopolitics or " imperialism” from anyone on this issue. They only care about the facts."
finance.yahoo.com
