Rockwell Subsidiary Ordered to Pay DRC Concession Holder $1.2m

Mining Weekly reported Rockwell Diamonds (TSX:RDI) said its indirect subsidiary, Durnpike Investments, will pay $1.2-million to Midamines.

As quoted in the market news,

Rockwell said it had entered into an agreement with Midamines, the holder of the exploitation permit on the Kwango River project, in 2006. It was agreed that Midamines would act as independent contractor to manage and carry out exploration activities and, potentially, mining activities in a certain portion of the concession area, while Durnpike would make minimum royalty payments to Midamines, in return for procuring and facilitating access to the project site.

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