This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Africo Resources agrees to new terms at Kalukundi 2009-02-04 09:34 ET - News Release
Dr. Tony Harwood reports AFRICO REACHES AGREEMENT WITH GECAMINES AND THE DRC GOVERNMENT IN RESPECT OF KALUKUNDI Africo Resources Ltd. confirms
that, following the conclusion of the mining review, has reached an agreement
with La Generale des Carrieres et des Mines (Gecamines) and the government
of the Democratic Republic of Congo (DRC) on the amended terms governing the
Kalukundi property. The Kalukundi property is located in the Katanga province in the
southeast of the DRC. The mineral rights to Kalukundi are held by Swanmines
Sprl., in which Africo holds a 75-per-cent interest, while Gecamines holds the
remaining 25 per cent. Africo has concluded and signed the amendment agreement to the "Contrat
de Creation de Societe Swanmines" (the agreement for the creation of
Swanmines). Pursuant to the amendment agreement, Africo is required to pay
Gecamines $1.6-million (U.S.) per year for a four-year period, however, the
company's 75-per-cent interest in the project and the 2.5-per-cent royalty payable to
Gecamines on gross sales will remain unchanged. The remainder is available to Stockwatch subscribers.
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