Been in touch with the WSA over their multi-million dollar inverstment in CAR mining. I asked if there was any progress given the current situation. They said :-
"Our project is progressing nicely, despite the recent events"
For those who missed the press release here it is. Bare in mind that there are no projects anywhere near Axmins in the country when reading.
New York, (USA), Thursday, January 3, 2013 - The World Sports Alliance Intergovernmental Organization will invest USD $200 Million in the Central African Republic and create a USD $1 Billion Mining Development Fund.
The World Sports Alliance (WSA) Intergovernmental Organization announces the signing of a major bilateral partnership agreement with the Central African Republic (CAR), in the sectors of Natural Resources Mining, Energy and Agricultural Bio-Fertilizers.
This global agreement, which was concluded in Bangui, in November 2012, after a year of negotiations with WSA, thanks to its signing by H.E. President François BOZIZÉ, includes the implementation of a Public-Private Partnership project in the sector of Natural Resources Mining (NRM-PPP), for the development and industrial operation of diamantiferous and gold bearing deposits in CAR, of a value of USD 100 Billion dollars, the first phase of which, of a value of USD $10 Billion dollars, is slated for start up in the first quarter of 2013 and which will, in and of itself, lead to the establishment of a significant WSA-CAR Mining Development Fund, in the amount of USD $1 Billion dollars.
This first phase, which will be initiated as early as the first quarter of 2013, will also enable an initial USD $200 Million investment, entirely financed by WSA’s Commercial Capital Manager, the Curtis Whitney Holdings, Inc. Group (CWH), for the implementation of an initial PPP project pertaining to Municipal Waste Processing (MWP-PPP), for the generation of 22.5 MW of electric power for Bangui and the yearly production of 9,000 metric tons of Agricultural Bio-Fertilizer. The MWP-PPP will also enable the deployment by WSA, within the framework of its mission, of significant sports and community infrastructures and of youth programs, valued at close to USD $60 Million, leading to positive repercussions for the Country’s social harmony, within a framework facilitating the achievement of the United Nations’ Millennium Development Goals (MDGs) by the Central African Republic.
The first phase of the NRM-PPP will also enable the implementation of three other PPP projects of equivalent size to the MWP-PPP. The global agreement between CAR and WSA will, at full deployment, create about 3,000 permanent jobs, which will lead to positive repercussions on the local economy.
The World Sports Alliance (WSA) is an Intergovernmental Organization (www.wsaigo.org) of 30 Member States. Its mission is to use Sports, Physical Education and Leisure (SPEL) as a catalyst to design and then implement extracurricular Youth Training and Educational Programs and a network of WSA Youth Sports Community Centers, geared towards the achievement of the United Nations’ Millennium Development Goals (MDGs). In order for the Organization and its activities to be self funding and self sustaining, such that it not become an additional burden to its Member States, WSA developed a financial model promoting the implementation of income-generating commercial activities, within the framework of Public-Private Partnerships (PPP) with its Member States, as is the case with the PPP in the sector of natural resources mining NRM-PPP, for the rational and equitable development and operation of its Member States’ natural resources, which, in turn, enable the financing of other PPP projects in various sectors, such as waste management, energy, agricultural bio-fertilizers, telecommunications, etc.