Confusion grips Glencore Dominican mine ´deal´
Santo Domingo.- Thesale announced Thursday of Glencore´s majority stake in the Falcondo nickel minein Dominican Republic is mired in confusion on lack of details and a “buyer” withno presence on the Web or “delisted” on a specialized website.
Adding to theconfusion was Energy and Mines minister Antonio Isa Conde´s warning on the “transaction”:The company identified as American Nickel Limited cannot operate the ferronickelmine at Bonao (central) without official permission… which involves meeting aseries of requirements and legal procedures.”
Another element ofconfusion emerges from the website www.delisted.com.au/company/us-nickel-limitedwhich lists US Nickel Limited as “delisted.”
Moreover the outletdiariolibre.com reports that the amount paid on the transaction or on theprocess itself offered information. "It’s all the information we have,"said Falcondo PR Alba Nelly Familia.
It said GlencoreCanada Corporation, on its website from Canada, didn’t post it as corporatenews, as listed companies usually do.
Isa Conde toldFalcondo executives that "no sale or transfer shall be valid without theprior written consent,” of the Dominican government.
Isa Conde made thestatement after a visit by Falcondo president David Soares and other executive Thursdayafternoonm to inform the official on the transfer of shares.