First Quantum Launches Legal Action Over Kolwezi Project

15 September 2010 (Last Updated September 15th, 2010 18:30)

First Quantum Minerals has launched legal action against subsidiaries of Eurasian Natural Resources in relation to the expropriation of its legal title of the Kolwezi project in the Democratic Republic of Congo. The legal action includes claims for inducement of breach of contract and int

First Quantum Minerals has launched legal action against subsidiaries of Eurasian Natural Resources in relation to the expropriation of its legal title of the Kolwezi project in the Democratic Republic of Congo.

The legal action includes claims for inducement of breach of contract and interference with contractual relations and property rights.

First Quantum is planning to file an injunction application to halt the use of its equipment and plant at Kolwezi.

Eurasion last month acquired rights to Kolwezi copper and cobalt project after the Government of Congo shut the mine on non-fulfilment of contractual obligation by First Quantum, which denied the allegations.

The legal action was filed by Congo Minerals Development, a subsidiary of First Quantum, against Highwind Properties, Pareas, Interim Holdings and Blue Narcissus.