Mozambique Tantalum Mine Destroyed by Rioters

Pacific Wildcat Resources (TSXV:PAW) reported on November 13 that its Muiane tantalum mine in Mozambique has been destroyed by local rioters.
“Security staff on site have been injured and from first reports the site camp and equipment have been destroyed by fire,” the company said at the tine, adding that police were not allowing access to the mine site as it was still being occupied by those responsible.
According to Reuters, the violence began when an illegal miner was shot dead earlier in the month. Mozambican newspaper O Pais states that armed men who blamed the company for the shooting set fire to the mine site.

As the Canadian Press notes, this is the second project owned by Pacific Wildcat to face issues. The company also owns a rare earths mine in Kenya, and had its mining license revoked there in 2013.
Pacific Wildcat’s subsidiary, Cortec Kenya Mining, lost its case accusing the government of illegally revoking its permit, but it is appealing the court’s decision. Pacific Wildcat has filed a request for arbitration with the International Centre for Settlement of Investment Disputes against the Kenyan government.
On Monday, the company reported that arbitrators have been appointed for the proceedings. Pacific Wildcat Chairman Don O’Sullivan commented that the company is “very pleased with the appointments and the progression of the formalities in preparation for the Arbitration.”
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.