"DRC respects the law" * DR Congo anxious to attract potential investors
By Thomas Hubert and Mark John
KINSHASA, Feb 9 (Reuters) - Democratic Republic of Congopledged on Tuesday to accept the outcome of internationalarbitration in a dispute with Canada's First Quantum Minerals(FM.TO: Quote) over the Kolwezi copper and cobalt tailings project.
First Quantum, which holds a 65 percent stake in the $550million project, announced this month it would seek arbitrationafter Congo last August cancelled its permit and then ordered itto close the project down.
"First Quantum has every right to seek arbitration,"Planning Minister Olivier Kamitatu said in an interview on themargins of a business conference in Kinshasa.
"The Democratic Republic of Congo respects the law. Youcan't on the one hand say you will improve transparency onnatural resources ... the other say you don't respect a legalruling, so we will behave coherently," he told Reuters.
The case has unnerved potential investors in Congo and isbeing closely watched abroad.