AVZ Discussion 2022

Flight996

Regular
Hi Schusselfussel

Great find, and enlightenment.

So, Felix Tshisekedi's role as president seems mostly ceremonial, which explains why he seems to spend his time eating caviar and catwalking the international stage, rather than managing domestic duties.

Interestingly, Prime Minister Jean-Michel Sama Lukonde Kyenge is from the Katanga Province, which implies a significant powerbase, influence and probably personal interest in the whole area including Manono.

That puts a different perspective on the Manono shitshow, and explains a lot about what's happening and not happening.

Cheers
F
 
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Bin59

Regular

1667941276905.jpeg



DRC: THE IGF, ITS EXPLOSIVE REPORT ON MANAGEMENT...

Image Post

  • POLICY

  • DRC: THE IGF, ITS EXPLOSIVE REPORT ON THE MANAGEMENT OF GÉCAMINES

  • 04/06/22 AT 16:42:44
  • 670 |
  • BY AFRIWAVE

It is a real time bomb that constitutes the Summary of the Control Report of the General Inspectorate of Finance (IGF) on the management of the General of Quarries and Mines (Gécamines), the largest mining company and pillar of the country's economy since independence.

Dated May 31, 2022, this 9-page document dontafriwave.comobtained a copy; traces a series of unforgivable irregularities that led to the loss of several hundred million US dollars at the expense of the country.

Long and very long led by Albert Yuma Mulimbi first as Director General (DG) then President of the Board of Directors (PCA) under Joseph Kabila of whom he remains one of the relatives, the management of Gécamines has still not been as "orthodox" as claimed. The extensive audit launched of management over the period 2010-2020 proved this on purpose.

Started in September 2021 when the President of the Republic Félix Tshisekedi, a few months rather was suffering from his desire to renegotiate the mining contracts signed during the two terms of his predecessor, Joseph Kabila; one could not expect a surprise. Moreover, the current Head of State would like a more comprehensive review of the entire mining sector to also be carried out.

In addition to the lack of generalized control, the synthesis of the Control Report of the General Inspectorate of Finance on the management of Gécamines targets in particular the conditions of sale or sale of Gécamines' mining assets for the benefit of private actors and, above all, the financial performance of a company regularly accused by NGOs of "selling Congolese minerals".

Some key figures
  • The turnover achieved by Gécamines partners between 2012-2020 was US$35 billion, Gécamines received only $564 million in terms of royalties.
  • Of Gécamines' advances to the state of the order of US$591 million, US$413 million is untraceable.
  • Of the $175 million doorstep of the Chinese contract, all $175 million remains untraceable.
  • Of total revenues of $1.9 billion, only $57 million was used for the Gécamines production tool.
  • While the legal debt was $44 million in 2020, Gécamines paid $97 million for lawyers' fees between 2016 and 2020.
  • La Gécamines sold its houses 1 bedroom + living room for $500, 2 bedrooms + living room for $750, 3 bedrooms for $1,000 and 4 bedrooms for $1500. In addition, 20% commissions were paid to a real estate agency.
  • In 1996, Gécamines held 45% of shares in the TFM (the largest copper mine), they were reduced to 17.5% in 2005.
  • In 2000, Gécamines had reserves of 35.3 million tons of Copper and 3 million tons of cobalt. In 2021, it has only 9.3 million copper and 1.4 million cobalt available.

As a bonus on board, we realize how much the country and its large and small companies have been bled by the predation regimes of the Alliance of Democratic Forces for the Liberation of the Congo (AFDL) and its heirs of the People's Party for Reconstruction and Democracy (PPRD) under the Kabila Laurent-Désiré and Joseph.

Because even if under Mobutu, things had not gone so far, under the Kabila; corruption and embezzlement of public funds reached their peak.

A second lesson, this explosive document makes it possible to understand how some political leaders of the time behaved like mercenaries by looting the country for their personal benefit and that of their families.

This also explains the rearguard fight they are trying to wage today to escape all sanctions, including the legal proceedings that are imposed on them.

a credible source contacted parafriwave.com confirms that "IGF investigations will continue until the end and that all those involved from far or near will be held accountable to the courts".
 

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Charbella

Regular
Ehm…i give him more than a credit. You understand me wrong, i don’t say anything against nigel. Its the fucking drc. Nigel have no fault. That system is bullshit. And i repeat it. That are only some thought’s! I can’t know what really is going on behind the scenes. But i understand now…when the drc want to fuck us…nobody can do anything against it. And you can’t say that this is not true. The president could be the honest man on earth with a lot love in his heart, when the other government gives a fuck he have not the chance to change something. That makes me really sad. I promise my biggest wish is that everything is going good, for us and the honest people of the drc!
Power is already shifting. President Tshisekedi can change things and make ML happen.

 
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Bin59

Regular

Sama Lukonde Gecamines
Mining in DRC Mining Personality

THE NEW GECAMINES’ DIRECTOR-GENERAL AND HIS DEPUTY OFFICIALLY TAKES OFFICE​

JULY 7, 2020 ARNBETHNICGECAMINES


The new Director-General of Gécamines Sama Lukonde and his deputy Tambwe Ngoie officially took office on Monday (June 29th). The handover and resumption ceremony was held in the presence of the Chairman of the Board of Directors, Albert Yuma.
Remise et reprise entre l'ancien et le nouveau DG de la SNCC

Delivery and resumption between the old and the new CEO of the SNCC

He assured the new leaders of his full cooperation. The outgoing Director-General took stock of his management of Gécamines before identifying 8 key points that the current management team should address.
The incoming CEO, Sama Lukonde assured the employees’ representatives that he wanted to “see Gécamines rise with the contribution of all”.

The new CEO and his deputy have been appointed since May 2019. They were not notified by the Ministry of Portfolio until last week after the Office of the Head of State ordered the Minister of the Portfolio to notify the new agents or face sanctions.
 
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Tunedin

One Happy Camper
Ehm…i give him more than a credit. You understand me wrong, i don’t say anything against nigel. Its the fucking drc. Nigel have no fault. That system is bullshit. And i repeat it. That are only some thought’s! I can’t know what really is going on behind the scenes. But i understand now…when the drc what to fuck is…nobody can do anything against it. And you can’t say that this is not true. The president could be the honest man on earth with a lot love in his heart, when the other government gives a fuck he have not the chance to change something. That makes me really sad. I promise my biggest wish is that everything is going good, for us and the honest people of the drc!
Mate, this is dirty politics driven by greed and an internal power struggle. The same in every country. Being personally invested in an outcome one way or the other makes each counter move feel like a slap in the face. Look at the last US election 😮 that was as dirty as it can be, but few if any here were as personally invested in the outcome. Most of the moves made in political and power struggles are internal and would not be seen or recognised by anyone from the outside… but they are happening. The only level we see and judge is the public mud slinging and that usually comes off in the wash.
 
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Xerof

Flaming 1967
I thought it had always been clear that pinhead and princess were, er, not on our side

Princess in particular is getting very shrill
 
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Charbella

Regular
Lukonde should be jumping out soon. I don't think he is with us.
 
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I thought it had always been clear that pinhead and princess were, er, not on our side

Princess in particular is getting very shrill
Gee! Can't believe the volume of negative postings from a few regulars on all formats just after each RS. Curious?
 
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LOCKY82

Regular
:ROFLMAO::ROFLMAO:
Just the weigh in tonight remember....bell hasnt rung for round 1 yet....though the discussion was robust and respectful;);)
Hi Chilla. Im on this thread probably as much as anyone, usually just in the background but I follow the threads religiously. Prior to today you have been very vocal about your thoughts which is to be encouraged. Today not so much. Whatever happens at these roadshows there is some drug being slipped in to the snacks that makes people go very quiet !!! As is to be expected I guess. One question I do have, no doubt you asked about 13359. Is there anything you can comment on regarding the northern tenement? Can you maybe comment on whether you have negative sentiment??
 
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A more detailed article of what’s happening in DRC while we sit and wait for things to get sorted in our favour :


Adèle Kayinda satisfies her interlocutors on the lithium file in Greater Katanga​

Adele-1.jpg

Two caucuses of deputies from Tanganyika and Haut-Lomami exchanged with the Minister of State, Minister of the Portfolio,

Adèle Kanyinda yesterday Monday, November 07 in the meeting room of the said ministry. On the menu of these interviews is the file of both the lithium operation and the factory to manufacture the batteries using this ore. The boss of the Portfolio was all eyes, ears to respond to the concerns of the elected officials of Greater Katanga. Who returned very satisfied at the end of this meeting, according to Emmanuel Nyembo Kahumba, spokesman for the deputies.

For the president of the Grand caucus of all four provinces, the populations of the Tanganyika and Haut-Lomami provinces want to see clearly on the issue of lithium ore whose exploitation will lead to the manufacture of batteries that will be used for electric cars.

Lithium is found in the territories of Moba, Manono, Nyunzu, Kongolo, Mitwaba, Malemba and Bukama, the head of the delegation of these four Caucuses listed.
"In Manono and Malemba, there is already an on-site farm. If we rose as one person, it was because our populations spoke, reacted to what the Minister of Industry told the opinion that the government laid the first stone in the Sakania territory for the lithium extraction industry, "said the president of the Grand Caucus of all four provinces.
The populations of these two provinces reacted by hoping that the production chain be established in northern Katanga, believing that southern Katanga has been sufficiently industrialized.

AVZ COMPANY

In addition, representatives of the populations of Greater Katanga mentioned the presence of the AVZ company, which has already completed its feasibility study and that it is in the process of transforming its research permit into an operating permit and that it would even be in possession of its operating permit.

In addition, the national deputies from Greater Katangala also told Minister Adèle that the Ministry of Mines service received a letter of opposition from the Cominière company not to transform the expolitation permit because the Cominière, who is the representative of the State in this part, found that the AVZ company included the Mpianamuanga dam. Also, in the session, the deputies asked her to remove this dam that does not belong to her.

The Caucus of the deputies of Tanganyika and Haut-Lomami wondered why the government rushed to lay the foundation stone of the battery manufacturing plant.
As for this dam, the elected officials of Greater Katanga have noted, its current pitiful state requires several years to rehabilitate it.

THE COMINARY FOUND IN A PITIOUS STATE

In her response, the Minister of State, Minister of the Portfolio, who followed very carefully the concerns of the populations of these two provinces through the voice of their representatives, was very concrete, responding point by point to their concerns. She said she found, on her arrival at this ministry, a Cominière company in a deplorable state. So he had to start by organizing it. And today, she has signed several partnership contracts with several companies.

As for the AVZ, the boss of state companies has painted a dark picture of it. It is a society created in confusion and confusion maintained purposely, according to Adèle Kayinda. She did not mince words to show her interlocutors her nebulous character, sometimes calling herself AVZ Mineral, sometimes AVZ International. What is the action that AVZ has already carried out in Manono? Does she even have a spade? She wondered, believing that she does not know how to go to a fuzzy partner. A company that has no background in mining. Because of the presence of this company, the Cominière is deprived of its rights that the boss of state companies has committed to return to it.

AVS INTERNATIONAL IN PROCESS AGAINST DATHOMIR SARLU

And according to a press release from the Ministry of the Portfolio, AVZ International PTV LTD had legal disputes with Dathomir Sarlu. At the heart of this dispute, two share sales contracts reached in June 2019 and August 2020 AVZ International acquired 15% of Dathcom Mining shares held by Dathomir Mining Resources Sarlu at a price of $21 million. But, towards the end of the year 202, a stock market announcement by AVZ revealed an agreement to sell its own 24% shares in Dathcom Mining SA to Cath Energy at a price of $240 million.

Faced with this strong disproportion between the two prices, Dathomir asked, by his letter of December 31, 2020, to evaluate his 15% of shares in order to protect himself from possible risks of injury and even major tax adjustments. However, AVZ's refusal led to the termination of contracts on May 14, 2021.

But with the help of fraud, the CEO of Dathcom obtained from the main clerk of the Single Business Creation Desk, Lubumbashi branch, a certificate of shares and a register of partners of Dathcom Mining SA dated August 31 and September 1, 2021, according to which AVZ International became the holder of 75% of Dathcom Mining shares, i.e. the 15% of Dathom

A VERY COMMITTED PLEA

Katanga.jpg

Quoted by Dathomir Mining Resources SARLU before the TGI/Lubumbashi, the CEO of Dathcom Mining SA, the Chief Registrar of the Single Business Creation Desk and the civilly responsible Dathcom Mining were sentenced respectively to 3 years of main criminal servitude firm, 1 year of suspended SPP and $50 million as DI.

For the Ministry of Portfolio, representing the interests of the State, the share capital of Dathcom Mining is distributed as follows: AVZ International 60% instead of 75%; Dathomir Mining Resource SARLU: 15% and Cominière: 25 of which 15% sold to Zijing and 5% MMCS.

Adèle Kayinda reassured her interlocutors that her ministry has taken the decision to take over and work with them to support the Cominière. She felt a very committed plea among her interlocutors in favor of those they represent, that is, the populations.

Regarding the issue of laying the first stone in Sakania; she promised to consult with her colleagues in Industry and Mines.

It should be noted that this meeting of deputies from Greater Katanga comes after the meeting with the Minister of Industry.

Kléber KUNGU
Careful. "A more detailed article of what’s happening in DRC" ?? Its full of detailed lies & surely funded by those who want to steal as much of Manono Lithium as possible !!!!
 
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Bin59

Regular
Careful. "A more detailed article of what’s happening in DRC" ?? It’s full of detailed lies & surely funded by those who want to steal as much of Manono Lithium as possible !!!!
You’re right, I should have said a more detailed article of lies being spread in the DRC 👍
 
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Xerof

Flaming 1967
Gee! Can't believe the volume of negative postings from a few regulars on all formats just after each RS. Curious?
This is not negative. I'm stating long known facts, and pointing out that the princess seems to be in panic mode, or more accurately, those funding her green dresses are in panic mode
 
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You have lost the plot mate. If Nigel felt like it was a lost battle, he would have left the company by now. Just for your reference, Nigel has been working relentlessly for the last 6 months in the DRC on ground and only managed to spend 3 weeks with his family. Give the man some credit!
This is true. Nigel said this in front of many last night.
 
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Charbella

Regular
I wish you would be right, but fighting against a army is a different thing than having a resource and make money with it.
Where do you have any information about the president can give a ML?
Bro, cominiere was speaking guilty, nothing happend. Instead cominiere and two minister now going against us and our mining license.
I think the only one who can really help us at the moment is lukonde. But i don’t bet on him. I pray to god that I’m wrong, but for me some things make sense now. In my opinion there is a unbelievable big chance to loose this battle. Drc stay’s in Chinese hands. The drc elite make money with it and give a fuck about their people…
Hi Schusselfussel, Did you read the article?
President said he wants a disciplined army that obeys order, a single leader and with one command structure.
 
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Misfits

Regular
Appreciate that Ox and thank you very much

But what we saw from the Perth RS and what we've seen since doesn't seem to be any real additional news that we hadn't already managed to scrounge ourselves

Maybe you got answers to the hard questions like:

  • What is the real status of PR 13359 and the carved out parts apparently subject to a new PR and JV
  • Why the ML hasn't been issued despite the ministerial decree half a year ago
  • Why the surface rights calc hasn't been made public and paid
  • Why CAMI cut up PR 13359, who was responsible and what was the rationale behind the decision
  • Why we now have to "negotiate" with crooks over parts of our original tenement
  • Why we are potentially losing much of Malata, Kahungwe and a big slab of CDL
  • Why Princess Bitchface is a barrier in the machinery and why is that allowed to continue
  • Why Mupande still retains his position
  • Why the findings of the IGF investigation are competely ignored and does that mean it's a fucking useless and impotent mechansism
  • What's the status of any agreement or MOU or even a fucking chat on the Hydro Power
  • Why Klaus and co or any other bastard can now appropriate parts of the original PR 13359 for no apparent compensation

I'm sure some of these questions got asked/addressed????

If not we've only got a few more opportunities via the remaining roadshows and AGM :unsure:
Agree Winenut. What we have learnt from theses RS are investors are a mixed bunch, caring people, that people walk in angry with lots of questions and walk out feeling warm and fuzzy due to Nigel showing some slides.

People have been so vocal and have robust questions etc, but what answers were received to these robust questions. If rd 1 was this enlightening rd 2 will be a doozie.
 
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Rediah

Regular
? Can you maybe comment on whether you have negative sentiment??
so far what we have been told is positive , but again we coming out of RS without any solid concrete set in stone proof that we can wave and show the world is pointless, hence the silence.
 
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This is not negative. I'm stating long known facts, and pointing out that the princess seems to be in panic mode, or more accurately, those funding her green dresses are in panic mode
Not you mate. Cheers.
 
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antimatter

Regular
You have lost the plot mate. If Nigel felt like it was a lost battle, he would have left the company by now. Just for your reference, Nigel has been working relentlessly for the last 6 months in the DRC on ground and only managed to spend 3 weeks with his family. Give the man some credit!
images.jpeg-1.jpg
 
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TDITD

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