|
MTX
MEMTX
MTX - Metorex - Company Announcement
METOREX LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1934/005478/06)
JSE code: MTX
ISIN: ZAE000022745
Issuer code: MEMTX
("Metorex")
Company Announcement
Media Release on Review of Mining Titles - Democratic Issued by Metorex
Republic of Congo (`DRC`) Limited
Metorex Limited has been made aware of the media
release regarding the Mineral Licence Review in the 6 November 2007
DRC.
Metorex`s view and understanding regarding this
release are as follows:- For further
information
Background contact:
The Presidency instructed the office of the Prime
Minister of the DRC to establish a commission to Charles Needham
review the validity of the mining licences and joint Chief Executive
venture agreements in respect of about 60 licences. Officer
This Commission was established under the authority Tel: +27 11 880
of the Minister of Mines to review these titles and 3155
report its findings to the Minister of Mines who in Fax: +27 11 880
turn would submit these findings to the Cabinet for 3322
assessment and review by the Presidency.
Objectives of the Commission
The objectives of the Commission are to inform
government of the status of the various mining
projects and titles to create a cohesive and investor
friendly environment and policy for future mining
development in the DRC.
JSE; LSE, ADR-BoNY
Commission Authority
The Commission was mandated to audit the status and
progress on the mining licences and submit its report
on its findings to Government for its review.
Communication Registered office:
It is our understanding that only the Minister of Cradock Heights
Mines is authorised to communicate its findings and 21 Cradock Avenue
proposals to the mining companies and public arena Rosebank
following Governmental review. Johannesburg
South Africa.
Announcement
Metorex is of the opinion that the media release is
an unauthorised breach of protocol and the content
has no locus standi. The report of the Commission
still requires discussion and amendment prior to
presentation to the government and release by it.
Conclusion
With regard to the Metorex investments in the DRC, it
stands by its view that the mining titles and joint
venture agreements have been entered into in
accordance with the provisions of the Mining Code and
have followed due legal process.
Metorex Limited
Johannesburg
South Africa
Date: 06/11/2007 08:59:13 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
| Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information. | |||||||||||||
| Other Profile Group sites: FundsData Online (unit trust data) | Profile Group corporate site | |||||||||||||
| [ Terms of Use | Privacy Policy | PAIA manual | FAQs/Help | Site Map | © Copyright Reserved 2026 ] | |||||||||||||
|
|||||||||||||
