CORRECTED - UPDATE 2-Congo panel says 61 mining contracts not viable

(Deletes erroneous reference to Canada's Banro Corporation (BAA.TO: Quote, Profile, Research, Stock Buzz), which does not have a joint venture with the state and is not listed as one of the 61 companies under review)

By Joe Bavier

KINSHASA, Nov 3 (Reuters) - Sixty-one mining contracts under review by a mining commission in Democratic Republic of Congo should be cancelled or renegotiated, according to a preliminary report from the panel seen by Reuters on Saturday.

The document, which a commission member said had not yet been finalised, showed that no contract reviewed by the panel was considered "viable" in its current form.

Thirty-seven contracts, including those with international firms Freeport McMoRan Copper & Gold Inc (FCX.N: Quote, Profile, Research, Stock Buzz), BHP Billiton (BHP.AX: Quote, Profile, Research, Stock Buzz) and Nikanor NKR.L, needed renegotiating while the remaining 24 should be terminated, the document recommended.

The commission was established to bring mining contracts in the vast former Belgian colony, most of which were negotiated during a 1998-2003 war and a subsequent three-year transition period, up to international standards.

"(The document) is the work of a subcommittee and is not the final version of the report. There still could be changes," the commission member told Reuters.

He said the final version of the report should be presented to Congo's Ministry of Mines on Tuesday.

Among those contracts recommended for cancellation are Toronto-listed Anvil Mining Ltd's (AVM.TO: Quote, Profile, Research, Stock Buzz) rights to the Dikulushi copper and cobalt mine, where the Perth-based company has recently launched an underground mining operation.