Mining & UN Resolution

It is a common misconception that mining in countries which are the subjects of UN Resolutions (sanctions) is prohibited. Nothing could be further from the truth; the UN sanctions with regards to the DPRK are targeted to prohibit the development of specific military technology and weapons.

There are currently 12 different countries, including DPRK, that are subject to UN Resolutions, all of which generate significant revenue from the extraction of minerals (i.e. DRC revenues from mining in 2012 were in excess of $1.8 billion).

Relevant UN resolutions expressly envision continued programs and financial support for humanitarian and development purposes. The company’s agreements to mine have specific provisions that deal with all applicable international laws and resolutions and ensure complete compliance by the company at all times.

PCL has a legal opinion  confirming that it is fully compliant with all UN resolutions in relation to its mining areas.