Friedland goes stargazing in Africa

IVANHOE Mines founder and chairman Robert Friedland has blamed astrology for recent events in the Democratic Republic of Congo, but said the mining sector was “absolutely united” in finding common ground with the government.

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Last week, the DRC parliament approved a new mining code, which proposes higher royalties on copper and cobalt, and a super profits tax.

Friedland said he was moved to “speak from the heart” and suggested last week’s Super Blue Blood Moon was to blame for the new mining code.

“It was a full moon when the Mongolian parliament, under the influence of vodka apparently, passed a windfall profits tax,” he told Mining Indaba in Cape Town.

Friedland said common sense prevailed then, and it would again.

“Money is a coward. Money flees at the speed of light when it gets scared,” he said.

Friedland has spoken to Randgold Resources CEO Mark Bristow, Glencore ...