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Somalia Says Range Resources Mineral And ‎Oil Rights Deal Is Invalid
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Somalia Says Range Resources Mineral And ‎Oil Rights Deal Is Invalid

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Sydney, Australia, October 18, 2005 (Resource Investor) – Somalia’s government has raised concerns with ‎the Australian Stock Exchange over a mysterious deal involving a small Perth company, Range Resources ‎Ltd, that claims it has secured the exclusive mineral and oil rights over a large slice of the country.‎

In a letter to the ASX obtained by The Age, Somali Prime Minister Ali Mohamed Gedi said the deal with the ‎regional government in the eastern Somali state of Puntland was invalid because only the country's ‎transitional federal government had the power to negotiate the sale of mineral and oil rights.‎

‎"We understand that this event, if not stopped on time, will have an impact on Range Resources Ltd and the ‎market of the Australian Stock Exchange and we ask you as a matter of urgency to inform your market of ‎this event," the letter says.‎

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