RE:RE:RE:RE:RE:The trading floor has descended into absurdityStock Em Ups,
We'll find out Tuesday when international miners finally sit down with Kabila. You must be referring to the Kolwezi Tailings Project. After sinking $750 million the DRC government revoked First Quantum's license after unsuccessfully attempting to renegotiate their agreement. FM went to international arbitration and the project was tied up in limbo for 3 years. Finally, Eurasian Natural Resources paid them out $1.25 billion to drop the case. So, FM came out $500 million ahead. And no one else was able to develop the project without their consent.
Hopefully that doesn't happen on Tuesday. But in the end, FM had to be fairly compensated. The government can revoke a license, but no one else can work on it without express permission from IVN. Something tells me these discussions with all international miners acting in concert, like a union, may be more productive than those with FM back in 2009.