AVZ Discussion 2022
- Thread starter GazDix
- Start date
"The surface rights fees have been calculated and given to AVZ (Nigel may say differently)
Nigel does not want to pay the surface rights until ownership issues are resolved with Cominiere and Dathomir"
At the AGM Nigel specifically stated that AVZ have not received an invoice for the surface rights.
IMO I do not believe that AJN will get any license
Just you wombat. They ain’t getting
. Have you not been keeping up with Franck’s tweets?there you have it!
#RDC : Faced with young people, Félix Tshisekedi defends his ministers who, according to him, are not corrupt. “Bring me proof of their corruption and they will no longer be part of the government”
I didn't like this comment, first time I've felt a bit 'meh' with FT.
The people elected him to run the country on their behalf, and that includes weeding out corruption. And he has the gall to tell them that they should be the ones to go and find proof?
Sort your own house out FT. It's not the responsibility of the young people of DRC to sort out the corrupt bullshit of the generation before them while someone else stands in front of them to apparently act on their behalf.
Its political. What President or Prime Minister is going to come out and say their ministers are corrupt? None. Evidence will come out or there will be scapegoats. He does not want to come into an election with corrupt ministers
Samus
Top 20
Bradage des actifs miniers de la COMINIERE : Jules Alingete accable Adèle Kanyinda et les dirigeants de cette entreprise
Un vrai scandale ! Un rapport de l’Inspection générale des finances (IGF), daté 30 novembre 2022, dont Exclusif s’est procuré une copie, met à nu le bradage planifié des actifs miniers de l
exclusifrdc.com
Samus
Top 20
It's Franck 
#RDC : “There are a lot of mines that were taken for free, there are people who had taken mines quite simply because #Gecamine owed them a bag of flour. That the State recovers the mining assets close to #Dangertler is a good thing”: Franc Fwamba.
#RDC : “There are a lot of mines that were taken for free, there are people who had taken mines quite simply because #Gecamine owed them a bag of flour. That the State recovers the mining assets close to #Dangertler is a good thing”: Franc Fwamba.
antimatter
Regular
No... You are probably the only one.
Frank
Top 20
#RDC : Faced with young people, Félix Tshisekedi defends his ministers who, according to him, are not corrupt. “Bring me proof of their corruption and they will no longer be part of the government”
*Fyi, Talking about Proof of Corruption, I see where our mate Jules has been busy Digging up the Dirt as far back as 2011 atm
After its investigation at Sodimico, the IGF finds an embezzlement of 14 million dollars in 2011
The General Inspectorate of Finance unveiled this Wednesday, November 30, its report on the investigation into the management of mining assets in the DRC by the public company Sodimico S.A (Société de développement industrielle et minier du Congo).
At the end of its investigation, the IGF made the general findings according to which the Congolese State had embezzled nearly 14.6 million US dollars from the doorsteps of the company Sodimico S.A. in 2011.
According to the report unveiled by the IGF, “The arbitrarily fixed doorsteps of USD 30,000,000 were to be divided equally between the government of the Republic and Sodimico S.A.
The entire amount was transferred to the government's account. which only retroceded to Sodimico S.A USD 400,000.”
In addition, the IGF believes that the fixing of the amount of the doorsteps in the Sodifor joint venture at 30 million US dollars by the Minister of Mines at the time was arbitrary and without objective basis.
In addition, the IGF reveals that the sale of the shares of Sodimico S.A. within the Sodifor Joint Venture was made without evaluation and without valid reason and underlines that the responsibility of the current management is engaged for this sale of assets.
“According to the declarations of Sodimico S.A, on March 28, 2011, by a contract imposed by the Minister of Mines, Sodimico S.A was forced to sell at USD 30,000,000 its shares held in the Sodifor joint venture to wealthy subsidiaries (Sandro Resources Limited and Garetto Holdings
Limited).
The responsibility of the current management is engaged for having signed the deed of transfer.” can we read in this report, a copy of which was sent to Media Congo Press.
Remember that Sodimico is a mining company, like Gecamines S.A. based in Haut Katanga, which manages part of the Congolese mining assets.
mediacongo
Frank
Top 20
From December 2 to 3 at the Hotel Memling: Held the 6th edition of the energy conference
The 6th edition of the Energy Conference (DRC NRJ6) will be held from December 2 to 3, 2022 at the Memling Hotel in Kinshasa.
These meetings, which will take the form of a round table, are intended to encourage participants to enrich discussions on the way in which the private sector can contribute to meeting the strong demand for energy (social and industrial) for the development of ground floor.
Through these meetings, the organizers and the stakeholders, in particular the members of the government of the Republic, the Regulator of the energy sector, the establishments, the agencies and the public companies, the financial institutions and the development partners, want meet the needs of local energy producers, so as to offer them a concerted solution and support in the process of developing their projects, in order to increase the supply of energy production in the DRC.
Each in his sector, will take part in these meetings to give direct answers to the needs and problems of the private energy sector, and to propose concrete solutions for the increase in energy production. Those round tables will be organized.
The first will focus on the theme "Energy & Mines" (energy projects and infrastructure); while the second will focus on "innovative partnerships" in terms of research and innovation, such as the exploitation of lithium in the energy transition as well as new ambitious initiatives, such as solutions in energy exploitation as well as new ambitious initiatives , in particular solutions in the exploitation of solar energy and mini-grids.
Among the speakers, there will be Mr. Ben Munanga, Chairman of the Board of Directors of KAMOA COPPER (He will give an overview of the initiatives developed by private operators in the energy sector since the promulgation of the 2014 Law and the liberalization of the sector); Mr. Fabrice Lusinde, Managing Director of SNEL (He will present the initiatives developed by SNEL in the sector); Mr. Willy Mulamba, Director at CITIGROUP CONGO (He will present the financing mechanisms for energy projects in the DRC; Mr. Rémi Fortané, Infrastructure & Renewable Energies expert at ENABEL (He will present a practical case on the process of rehabilitating the Tshopo hydroelectric power station).
Also present will be: Mrs. Eve Bazaiba, Deputy Prime Minister, Minister of the Environment and Sustainable Development; Mr. Christian Mwando, Minister of State for Planning; Mr. Eustache Muhanzi, Minister of State for Small and Medium Enterprises; Mr. Ncolas Kazadi, Minister of Finance; Mr. Julien Paluku, Minister of Industry; Mr. Jean Lucien Bussa, Minister of Foreign Trade and Mrs. Antoinette N'Samba, Minister of Mines.
The program includes a word of welcome from Mr. Éric Monga, President of the National Energy Commission of the FEC (Federation of Congolese Enterprises) and host of these meetings, followed by an introduction by the Minister of Hydraulic Resources and Electricity, Mr. Olivier Mwenze.
The closing will be done by a panel of ministers who will comment on the resolutions resulting from the parallel round tables.
These resolutions and recommendations resulting from the parallel round tables which will take place on the first day, i.e. December 02, will allow the conference to develop the first draft of the roadmap which will be presented on the second day, i.e. December 03, and this, before the holding of the panel of ministers.
mediacongo
Ahh, Hello DRC !!! Yeah, that's it, over here, remember us and our little Hydro Power source sitting there ready to refurb ffs
The 6th edition of the Energy Conference (DRC NRJ6) will be held from December 2 to 3, 2022 at the Memling Hotel in Kinshasa.
These meetings, which will take the form of a round table, are intended to encourage participants to enrich discussions on the way in which the private sector can contribute to meeting the strong demand for energy (social and industrial) for the development of ground floor.
Through these meetings, the organizers and the stakeholders, in particular the members of the government of the Republic, the Regulator of the energy sector, the establishments, the agencies and the public companies, the financial institutions and the development partners, want meet the needs of local energy producers, so as to offer them a concerted solution and support in the process of developing their projects, in order to increase the supply of energy production in the DRC.
Each in his sector, will take part in these meetings to give direct answers to the needs and problems of the private energy sector, and to propose concrete solutions for the increase in energy production. Those round tables will be organized.
The first will focus on the theme "Energy & Mines" (energy projects and infrastructure); while the second will focus on "innovative partnerships" in terms of research and innovation, such as the exploitation of lithium in the energy transition as well as new ambitious initiatives, such as solutions in energy exploitation as well as new ambitious initiatives , in particular solutions in the exploitation of solar energy and mini-grids.
Among the speakers, there will be Mr. Ben Munanga, Chairman of the Board of Directors of KAMOA COPPER (He will give an overview of the initiatives developed by private operators in the energy sector since the promulgation of the 2014 Law and the liberalization of the sector); Mr. Fabrice Lusinde, Managing Director of SNEL (He will present the initiatives developed by SNEL in the sector); Mr. Willy Mulamba, Director at CITIGROUP CONGO (He will present the financing mechanisms for energy projects in the DRC; Mr. Rémi Fortané, Infrastructure & Renewable Energies expert at ENABEL (He will present a practical case on the process of rehabilitating the Tshopo hydroelectric power station).
Also present will be: Mrs. Eve Bazaiba, Deputy Prime Minister, Minister of the Environment and Sustainable Development; Mr. Christian Mwando, Minister of State for Planning; Mr. Eustache Muhanzi, Minister of State for Small and Medium Enterprises; Mr. Ncolas Kazadi, Minister of Finance; Mr. Julien Paluku, Minister of Industry; Mr. Jean Lucien Bussa, Minister of Foreign Trade and Mrs. Antoinette N'Samba, Minister of Mines.
The program includes a word of welcome from Mr. Éric Monga, President of the National Energy Commission of the FEC (Federation of Congolese Enterprises) and host of these meetings, followed by an introduction by the Minister of Hydraulic Resources and Electricity, Mr. Olivier Mwenze.
The closing will be done by a panel of ministers who will comment on the resolutions resulting from the parallel round tables.
These resolutions and recommendations resulting from the parallel round tables which will take place on the first day, i.e. December 02, will allow the conference to develop the first draft of the roadmap which will be presented on the second day, i.e. December 03, and this, before the holding of the panel of ministers.
mediacongo
Ahh, Hello DRC !!! Yeah, that's it, over here, remember us and our little Hydro Power source sitting there ready to refurb ffs
Frank
Top 20
View attachment 23390
Bradage des actifs miniers de la COMINIERE : Jules Alingete accable Adèle Kanyinda et les dirigeants de cette entreprise
Un vrai scandale ! Un rapport de l’Inspection générale des finances (IGF), daté 30 novembre 2022, dont Exclusif s’est procuré une copie, met à nu le bradage planifié des actifs miniers de l
Sale of the mining assets of COMINIERE: The IGF overwhelms Adèle Kayinda and the leaders of this company
A real scandal! A report from the General Inspectorate of Finance (IGF), dated November 30, 2022, of which Exclusif obtained a copy, exposes the planned sell-off of the mining assets of Congolaise de l'Exploitation Miniere (COMINIERE S.A), by its management team with the involvement of the Ministry of Portfolio.
Of the 40 mining titles from which COMINIERE has benefited since its creation, 37 titles have already been sold to various private partners and 1 title is leased to CHEMAF.
According to the IGF, “Among the 37 mining titles sold, 6 mining titles relating to LITHIUM deposits were sold in a joint venture called DATHCOM MINING with Australian and Chinese private parties.
When DATHCOM MINING was created, the shares were distributed as follows despite the fact that it was COMINIERE S.A which provided the LITHIUM deposits and other minerals while DATHOMIR was to provide the financing: 70% DATHOMIR MINING SARL; 30% COMINIERE S.A.”
The IGF recalls that the corporate purpose of La COMINIERE S.A as defined in its statutes is "to carry out all study, prospecting, research and mining operations for cassiterite, coltan, tin, etc. . ".
In practice, none of everything described is done.
To such an extent that a practice has been instituted at the General Management of COMINIERE SA (in violation of its articles of association), that of simple activities of acquiring holdings in mixed companies by means of definitive and irrevocable transfers of mining titles, against minority stakes of a maximum of 30% in the share capital of these Joint-ventures and 70% of stakes allocated to the other partners, although having presented no financial guarantee.
“It is a real sale of the mining heritage of the State. The External Partners now own, definitively and irrevocably, more than 90% of the mining assets of COMINIERE S.A.”, denounces the General Inspectorate of Finance.
According to this IGF report, “there has been observed abusive, systematic and irrational transfers of mining rights from the Congolese State without any prior assessment, against a maximum of 30% of shares in the Joint Ventures.
Transfers to which the General Management of COMINIERE S.A justifies by the lack of financial means including State subsidies as well as by the need for their survival.
This by explaining that even if the mining code enshrines the final and irrevocable transfer of mining titles in its chapter II, articles 182 to 185, the final and irrevocable transfers of mining perimeters not preceded by a prior assessment are acts of selling off which do not can be justified by the absence of state subsidies and even less by the need for survival. »
It is explained that in the absence of means of valuation of the mining titles before their contribution in the Joint-Ventures, a final and irrevocable transfer accompanied by a clause of redistribution of shares in the event of evaluation of the mining titles can be legally justified, which is not the case of the General Management of COMINIERE S.A which institutes definitive and irrevocable transfers of the non-valued mining perimeters without any precaution.
Still according to the IGF, the COMINIERE mining rights transfer policy is motivated by the survival and not the enrichment of the State.
"The investigations of the Control Team led to a contradictory observation of the absence of economic, financial and social repercussions of this policy of definitive and irrevocable transfers of the mining rights of the State on the enrichment of the Congolese State, and that COMINIERE S.A is content to take care of the survival and not the enrichment of the Congolese State, owner of the mining resources”, indicates the control team of the IGF.
That's not all.
Worse still, "the Exploration Permits are transferred to the partners without payment of the transfer price in favor of COMINIERE S.A, without any reaction from the Managing Director of COMINIERE S.A, despite the fact that the transfer contract clearly provides for the payment of a sale price".
The company DATHCOM Mining S.A was initially created in partnership with the company DATHOMIR Mining Resources on October 17, 2016.
Its fallacious promises of financing had earned the latter the allocation of 70% of shares while COMINIERE S.A which sold definitively and irrevocably mining titles was content with 30% of the shares.
No proof of funding guarantee provided by its partner was provided to the control team.
As if the 70% were not enough to mobilize financing, DATHOMIR Mining Resources was awarded an additional 5% of the shares of COMINIERE SA in reason that a sister company of DATHOMIR would have done the MANONO – PWETO route without being paid by the Congolese State. COMTNIERE S.A only kept 25%.
Involvement of the Ministry of Portfolio
For the IGF, “all these violations were authorized by the Ministry of Portfolio”. Clearly, the responsibility of the management of COMINIERE S.A as well as that of Minister Adèle Kanyinda, even if the IGF does not mention the latter by name.
15% of the shares of COMINIERE S.A in DATHCOM Mining sold at a low price to ZIJIN Mining.
“While the final feasibility study of the Lithium deposit project had communicated its results according to which the 100% of the shares of DATHCOM were worth USD 1,028,000,000 and that the 15% of the shares of COMINIERE already represented USD 154,200,000 , these (15% of the shares) were sold to ZIJIN Mining for the derisory amount of USD 33,440,000, thus causing a shortfall of USD 120,760,000.
As unlikely as it may seem, none of these USD 33,440,000 was allocated to the operation of COMINIERE S.A.
The coffers of the company are already ringing hollow to this day.
In this sale of the mining assets of COMINIERE, in addition to its CEO and the Minister of Portfolio who had given all these authorizations, are also involved the CEO of CAMI and a Special Advisor.
Vultures.
mediacongo
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