This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Miners In Congo Start Petition To Resume Digging


GOMA, Congo (AP) â¿¿ Miners in eastern Congo are seeking to go back to work in territory that has been under a mining ban for three years and is blacklisted by U.S. legislation, according to a petition made public Friday.

Their petition, which calls for mines in Walikale territory to be allowed to restart production, was signed by five cooperatives of artisanal miners as well as mine owners, traditional chiefs and other supporters.

The ban was imposed across much of eastern Congo on the grounds that minerals were funding armed groups. It extends to nearly all of the mines over an area many times the size of Walikale.

Congress's 2010 Dodd-Frank Act, which requires American companies trading in Congolese minerals to conduct due diligence checks, has reinforced the ban.

Friday's petition says the security situation in Walikale would allow for the resumption of mining activities, whereas a continuation of the ban "risks having serious effects on security owing to increased youth unemployment."

"Local communities have succeeded in persuading some of our young people to quit the armed groups, but as there is no work in the villages they are often tempted to go back," said Prince Kihangi Kyamwami, a traditional leader in Walikale who helped organize the petition.

Kyanwami said there is no activity by armed groups at three-quarters of the mines in Walikale.

"Buyers can come from China or anywhere. We have a project to build a modern village in Walikale, and any company that is interested in helping us, whether it is Nokia, Motorola or a Chinese company is welcome to a share of our minerals," he said.

The Dodd-Frank Act requires U.S.-listed companies trading in tin, tungsten, tantalum and gold to show their supplies have not come from Congo or else to state what steps they have taken to ensure the minerals did not fund conflict.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs