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 Politics: Gambian politics
 Carnegie Minerals forfeited to the state
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kobo



United Kingdom
7765 Posts

Posted - 16 Jan 2014 :  06:56:01  Show Profile Send kobo a Private Message
1. Carnegie Minerals forfeited to the state

Wednesday, January 15, 2014

The Special Criminal Court in Banjul, presided over by Justice Emmanuel Nkea recently delivered a judgment in the case of the state against Carnegie Minerals Gambia Limited and Andrew Charles Northfield, in which he ordered for Carnegie Minerals to pay US$ 200, 000 000.00, in default whereof the machines and other assets of the 1st convict company shall be forfeited to the State. Justice Nkea emphasised that the accused persons (now convicts), are charged on a four-count charges, dated the 15/02/2008.......

Source: The Point News & full report

2.Various sources of reports for background information of case that started since a Press Release from Gambia government Friday, February 15, 2008;



Edited by - kobo on 16 Jan 2014 10:05:22

kobo



United Kingdom
7765 Posts

Posted - 16 Jan 2014 :  07:24:42  Show Profile Send kobo a Private Message
1. Carnegie Minerals - Gambia Update: COPY OF AN IMPORTANT PRESS RELEASE ISSUED 18 FEBRUARY 2008

RNS Number:1710O
Carnegie Minerals plc
18 February 2008

18 February 2008
Carnegie Minerals Plc

("Carnegie" or the "Company")

Gambia Update

Following recent speculation, Carnegie Minerals Plc the AIM listed UK resource company (AIM - CME), announces that Gambian police have detained the Company's recently appointed British mining engineer Charlie Northfield, over allegations that the Company has been commercially mining Titanium, Iron ore and Uranium from its mineral sands Licence in The Gambia. The Company strongly refutes these charges and is working closely with the UK Foreign and Commonwealth Office to secure his release.

The Company wants to make clear that a component of mineral sands (Ilmenite, for which we are licensed to mine) is Titanium and Iron oxide. We would also like to clarify that trace amounts of uranium occurring in the Gambian mineral sands are usual for such deposits and cannot be economically extracted and therefore have no commercial value. The Company has previously notified the Gambian Government of this trace occurrence in its previous information submission and that Carnegie was willing to pay for independent international industry experts to review the Company's mining data to assist with their understanding of it.

The Company has provided to The Gambian Government continuous full disclosure with each shipment since the start of the project. This included all weights, Independent SGS laboratory results & pricing calculations. SGS is one the world's leading testing and inspection businesses.

Under the agreement signed with The Gambian Government prepared under the guidance of the Commonwealth Development Corporation Ltd of the UK, in the event any issue arose in relation to the project, there is a clear pre-agreed process which involves independent arbitration in London.

The Company has previously announced on 13 February 2008, that it had received notification from The Government of the Republic of The Gambia of the unilateral cancellation of it's licence to mine heavy mineral sands, and that the Company had already fully provided for this outcome.

Alan Hopkins, MD of Carnegie Minerals said:

"We strongly refute all charges that the Gambian Government has levied against us. We have been operating in The Gambia since 1999 and have always strongly adhered to the legal processes as set out by the Gambian Government and our mining licence.

"We are now doing everything in our power to ensure the safe return of our employee."

Alan Hopkins, Managing
Director, Carnegie Minerals Plc 020 7831 3113
Romil Patel / Olly Cairns, Blue Oar 020 7448 4400 /
Securities Plc + 61 8 6430 1631

Billy Clegg /Edward Westropp, Financial 020 7831 3113 / 07977 578 153 /
Dynamics 07957 230 946
This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCTRMFTMMTBBBP

2. Related Bantaba Gambian politics topic African Petroleum looks to drill offshore Gambia

3.
quote:
"For years the PPP Government passed on Gambia as a poor groundnut producing country without minerals or oil resources. The APRC established the Gambia National Petroleum Company and promised that it is training dozens of Gambians in petroleum engineering, geology, geophysics and other petroleum related fields and had initiated collaboration with the Chinese Petroleum Company to get the experts who could help in establishing the petroleum sector in the Gambia. The Gambian people are yet to see the benefits. Needless to say, Gambia is endowed with mineral resources. The PPP Government never relied on it to accumulate sovereign national wealth for sustainable development.

The APRC government negotiated with Carnegie Minerals that did prospecting and mining trials in Brufut and Sanyang mineral deposits and eventually received licence to exploit mineral deposits within the coastal strip of Batakunku, Sanyang and Kartong. Now Carnegie is gone but little is known of the sovereign national wealth that is derived from mining heavy minerals such as ilmenite, rutile and zircon.

PDOIS has put it on the development agenda that no country could enjoy sustainable and self reliant development without accumulating sovereign National Wealth.

PDOIS will be transparent and accountable in building the mining sector in the Gambia to promote prosperity and sustainable development.

What the government of the first Republic could not do in 30 years and the APRC Government in almost 20 years, PDOIS will do in less than five years or be removed from office in the fifth year if it were to be elected under a normal mandate of two terms."
SOURCE: PDOIS PRESS CONFERENCE ON RELEVANT NATIONAL ISSUES

Edited by - kobo on 16 Jan 2014 11:09:24
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