Democratic Republic of Congo has flirted with reviving its once-great uranium mining sector, but insists that for now it will keep its radioactive treasure trove underground for future generations to reap the profits.
Speculation has mounted that Congo would also relaunch commercial uranium mining, fuelled by a 'will they? won't they?' courtship with London-listed Brinkley Mining Plc over a joint venture with Congo's atomic energy agency to explore, mine, and export uranium under an exclusive contract.
Brinkley signed a memorandum with Congo's Ministry of Scientific Research in early 2007 but the deal was rejected by a new post-election government in March.
As Congo casts around for funds to rebuild its ruined infrastructure -- including a $5 billion loan from China to be repaid partly with mineral rights -- some see using untapped uranium reserves as essential.
"Given the current price of uranium and the country's needs, I think it is a necessity," said CGEA head Francois Lubala Toto.
Will They? Won't They? Should They?
Bookmarks