The government of the Democratic Republic of Congo ( DRC) has set up a panel to review mining contracts, Mining Minister Martin Kabwelulu said at a news briefing here Wednesday.
“The aim of this panel is to review these contracts and not terminate them but to adjust them,” Kabwelulu added, saying the panel will use experts with the know l edge required in the area to ensure a smooth completion of the process.
The panel will examine these contracts on a case-to-case basis.
Companies that will meet the government demands will be invited to sign, once the panel study answers from investors.
The latter will be contacted for the next step of the process, according to the findings.
It will be about terminating or re-negotiating with them.
Kabwelulu said the goal of the panel was not to draw new contracts but rather to review some imbalanced provisions discovered in the previous contracts.
Talks with the partners that signed contracts will not be held only with foreign investors but also with company committees that signed these accords.
Both sides will meet with the government panel which comprises eight cabinet members.
During last week cabinet meeting in Matadi, the Lower Congo province administrative district, the Congolese government decided to conduct a thorough review of the mining contracts signed with the various previous governments.