des précisions sur le RDC et FQM (kolwezi)

[bingogo]

TORONTO, Sept 16 (Reuters) - First Quantum Minerals (FM.TO) said on Wednesday it has stopped construction of its Kolwezi copper project in the Democratic Republic of Congo after authorities ordered it shut down.

The Canadian miner's shares closed nearly 6 percent lower following the announcement. However analysts said the project would likely suffer a long delay but would eventually go ahead.

First Quantum said its decision to stop construction follows an order by the general prosecutor of Katanga province to seal the facility, and also a letter from the DRC government last month withdrawing the company's license for the project.

First Quantum said it has declared force majeure on Kolwezi and will have to lay off 700 people. It will put off indefinitely its planned start-up, which had been targeted for May 2010.

"The company has been advised by its lawyers that such an order is illegal," First Quantum, which operates mainly in DRC and Zambia, said in a statement. It said it would seek international arbitration.

Kolwezi, a tailings recovery operation, is expected to eventually produce 70,000 tonnes of copper and 14,000 tonnes of cobalt per year. Construction of the project is about two-thirds finished.

First Quantum's shares dropped as much as 9 percent on the news, but rebounded a bit by the close to end down C$4.43, or 5.9 percent, at C$70.35 on the Toronto Stock Exchange.

TWO-YEAR CONTRACT REVIEW

The review of the Kolwezi contract is part of a massive review of more than 60 DRC mining contracts the government launched in 2007 to boost state revenues.

A top DRC mining official said First Quantum's license had been withdrawn due to "wrongdoings and shortcomings" and that a court hearing would be held on the issue.

Analysts said they doubted that First Quantum would be forced to cancel the project outright.

"While the government of the DRC may be interested in renegotiating the terms or payment conditions on the project, First Quantum remains firm with respect to the terms of the project," Macquarie analyst Pierre Vaillancourt said in a note.

"While we believe that a resolution will ultimately be worked out at Kolwezi, the process could take time."