Alphamin Receives Strong Support from the Government of the Democratic Republic of Congo to Develop Its Bisie Tin Prospect
July 25, 2014 (Source: Marketwired) — Alphamin Resources Corp. (TSX VENTURE:AFM), (“Alphamin” or the “Company“) is pleased to announce that the Government of Democratic Republic of Congo (‘DRC“) has reaffirmed its commitment to fully support Alphamin as it progresses to develop the first large scale mining operation in the North Kivu Province on its Bisie Tin Prospect in the east central DRC. Construction of the mine at Mpama North is scheduled to commence in 2016.
As announced July 21st, 2014, Alphamin’s management team held meetings with the Regional Minister of Mines and the Office of the Prime Minister in Kinshasa, the capital city of DRC. Meetings were also held at the United Nations Organization Stabilization Mission in the Congo (“MONUSCO“), the American Embassy and USAID.
All Senior Government Officials and MONUSCO have confirmed their support is the requirement for a secure, stable environment for Alphamin to continue its operations free from further interference from negative elements operating in the area. Key issues to be addressed by the DRC Government will be to inform affected communities that Alphamin through its wholly owned subsidiary, Mining and Processing Congo SPRL (“MPC“) is the full legal title holder of Research Permit PR 5266 and that results of the evaluation mission have indicated that no validation of artisanal mining will take place within the limits of the permit unless agreed to by Alphamin. No dedicated artisanal mining zone exists within the boundaries of the permit.
Alphamin further received assurance that the Ministry supports Alphamin’s application to convert a portion of PR 5266 to a Mining Permit, following the DRC Mining Code procedures. The Ministry would further assist in expediting this application process, indicating their support of a large scale mining operation at Bisie.
Alphamin has been informed that the DRC National Army (“FARDC“) and MONUSCO have instituted actions to neutralize rebel groups in the area. The success of these operations will dramatically improve the security situation in the Walikale area and location of the Bisie project.
Alphamin implores all parties involved in the resolving of tenure and occupation of the Bisie area to act with maximum restraint and place the human rights of all as of paramount importance.
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Alphamin in turn recognizes that the success of the project relies entirely on the full support of local communities. Alphamin has therefore commenced a socio-economic community development programme, which will improve the general living conditions of the population around Bisie and the greater Walikale area. Alphamin is in process of incorporating a Community Trust, which will be funded by 4% of the direct project expenditure excluding DRC taxes. Alphamin has further engaged Coastal Environmental Services (“CES“) to conduct a baseline study in which all affected communities and potential development projects will be identified for immediate action.
Alphamin is extremely satisfied with the outcome of meetings held in Kinshasa and is confident that future operations will be conducted in a friendly and safe environment.
ON BEHALF OF THE BOARD OF DIRECTORS
Brendon Jones, Interim Chief Executive Officer
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information. Such forward-looking information includes statements regarding the Company’s planned exploration programs. Actual results, performance or achievements of the Company may vary from the results suggested by such forward-looking statements due to known and unknown risks, uncertainties and other factors. Such factors include, among others, that the business of exploration for tin and other precious and base minerals involves a high degree of risk and is highly speculative in nature; few properties that are explored are ultimately developed into producing mines; geological factors; the actual results of current and future exploration; changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s publicly filed documents.
There can be no assurance that any mineralisation that is discovered will be proven to be economic, or that future required regulatory licensing or approvals will be obtained. However, the Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the Company’s ability to carry on its exploration activities, the sufficiency of funding, the timely receipt of required approvals, the price of tin and other precious and base metals, that the Company will not be affected by adverse political events, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain further financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information.
Alphamin does not undertake to update any forward-looking information, except as required by applicable laws.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>