Authorities in Congo's main copper-producing region, Katanga
province, have lifted the copper export ban slapped on 16 companies
last week following a meeting with the provincial governor Friday,
a company official told Dow Jones Newswires Saturday.
An official with Congo's state mining company, Gecamines, said
by telephone from Lubumbashi, the provincial capital, that
companies pledged to support corn-growing projects on the province
including planting at least 500 hectares of corn each during a
meeting with Moisi Katumbi, the provincial governor.
"The governor has lifted the ban and the affected companies can
now export copper without restrictions," he said.
The ban announced last week had stalled exports from the
companies, which include Toronto-listed Katanga Mining (KATFF,
KAT.T), Katanga Metals and New Dathu Minerals.
Katanga produces a bulk of Congo's copper and cobalt and most
mineral exports from the province are shipped across the Zambian
border through Eastern and Southern African ports to the U.S.,
European Union and Asian markets.
In December, Katanga provincial authorities announced an
agricultural policy involving mining companies in corn production
in a bid to boost food security in the province.
Some companies like U.S.-based Freeport-McMoRan Copper &
Gold Inc. (FCX), owners of the Tenke Fungurume copper/cobalt
project, have since complied and planted at least 500 acres of corn
around its mining areas.
Katanga's mineral production has been on the rise since 2006 due
to a surge in investments following the end of civil wars and
political instability in most parts of the country.
Congo is Africa's second-leading copper producer after Zambia
and the continent's overall leading cobalt producer. Analysts
project that the country's annual copper output could hit at least
400,000 metric tons by 2012.
-By Nicholas Bariyo, contributing to Dow Jones Newswires;
256-75-262-4615