AVZ Discussion 2022

[Frank]

Management of companies in the State portfolio: "The IGF financial patrol will always watch to block the way to anti-values", warns Jules Alingete

The Inspector General and Head of Services of the IGF, Mr. Jules Alingete, is aware of the role that his structure is called upon to play in the DRC to give another connotation to the Tshisekedi regime, especially in terms of good governance.

This is why he spares no effort to prevent and denounce any act tending to squander public money.

It is a noble mission that the IGF has been actively carrying out since the arrival of Jules Alingete and which continues unabated even if it is established that the predators have not completely given up their bad habits.

In view of this complex outline, the Inspector General of the IGF warns the following through a message on his Twitter account:

*State Enterprises will never be subject to any kind of predation.

The Financial Patrol of the IGF will always ensure to block the road to anti-values in order to realize the vision of the President of the Republic, Head of State, for the financial recovery of these public entities, end of quote.

 

[wombat74]

Agree on:
- FT number 1 priority
- purpose of trip to China
- DRC fucking us around.

It is a possibility that this has to go the way of Sundance resources and AVZ seek compensation from DRC. I really hope it does not happen. I have been searching around for examples where companies who have been stripped of resources in corrupt jurisdictions have sought compensation.

ASX miners demand Congo pay billions in compensation

ASX-listed Equatorial Resources has filed a $1.6 billion claim, while Sundance Resources is seeking up to $8.5 billion from the government.

www.afr.com

https://www.miningweekly.com/print-version/equatorial-resources-makes-11bn-claim-against-congo-2023-03-16

ENRC pays $1.25bn to settle dispute over Congo mining deal

First Quantum to be paid for its share in Kolwezi project and two other DRC mines in return for dropping legal claims

www.theguardian.com

Does anyone have any good examples where large payouts have happened?

What sort of time frame would we be looking at? 5 years?

In the case of Canada's First Quantum Minerals , their Copper project (drc) was ripped off them and handed to Zijin .

Equatorial Minerals project is in the Republic Congo but still the same sh1t .
"A campaign by the government to dispossess foreign mining companies of their iron-ore interest in Congo in favour of granting them to a Chinese-linked companies."

It's cheaper for these scumbags to steal projects and be sued than pay to take over projects legitimately .

 

[Hudnut]

If an IGF financial patrol produces a report in a forest and there's no judiciary around willing to act on its recommendations, did it really uncover any corruption?

 

[Flight996]

In the case of Canada's First Quantum Minerals , their Copper project (drc) was ripped off them and handed to Zijin .

Equatorial Minerals project is in the Republic Congo but still the same sh1t .
"A campaign by the government to dispossess foreign mining companies of their iron-ore interest in Congo in favour of granting them to a Chinese-linked companies."

It's cheaper for these scumbags to steal projects and be sued than pay to take over projects legitimately .

Hi Wombat

According to Perplexity.AI, the reason for the revocation of First Quantum Minerals' (FQM) DRC license was a dispute over renegotiating the contract with the DRC government. The government revoked its license in August 2009, which led to FQM suspending operations at its Frontier mine.

FQM took the matter to international arbitration, including the government's sale of the asset to a company controlled by Israeli mining entrepreneur Dan Gertler, who later sold it to Eurasian Natural Resources Corp (ENRC).

FQM then launched $2 billion in legal claims against ENRC, accusing the company of plotting with the government to expropriate the project. The dispute was settled in January 2012 for $1.25 billion.

Prior to the dispute, FQM spent US$750m on aquiring and developing the property. In 2010 the copper mine produced 322,700 tonnes of copper concentrate. If you subtract FQM's sunk costs from the settlement amount = $US500m compensation for lost future production and revenue.

Just substitute Zijin for ENRC, and it's groundhog day. However, Zijin and the DRC government better have deep deep pockets because Manono is worth an eye-watering amount.

Cheers
F

 

[Samus]

Fucking Zijin are spreading a whole heap of shit all over twitter at the moment.
Good opportunity to put em in their place given their track record of corruption, human rights abuses and environmental damage.

 

[wombat74]

Hi Wombat

According to Perplexity.AI, the reason for the revocation of First Quantum Minerals' (FQM) DRC license was a dispute over renegotiating the contract with the DRC government. The government revoked its license in August 2009, which led to FQM suspending operations at its Frontier mine.

FQM took the matter to international arbitration, including the government's sale of the asset to a company controlled by Israeli mining entrepreneur Dan Gertler, who later sold it to Eurasian Natural Resources Corp (ENRC).

FQM then launched $2 billion in legal claims against ENRC, accusing the company of plotting with the government to expropriate the project. The dispute was settled in January 2012 for $1.25 billion.

Prior to the dispute, FQM spent US$750m on aquiring and developing the property. In 2010 the copper mine produced 322,700 tonnes of copper concentrate. If you subtract FQM's sunk costs from the settlement amount = $US500m compensation for lost future production and revenue.

Just substitute Zijin for ENRC, and it's groundhog day. However, Zijin and the DRC government better have deep deep pockets because Manono is worth an eye-watering amount.

Cheers
F

Cheers . "Renegotiating the contract ." Zijin now hold 72 % of that copper project. (cu grade over 4% ). There's always the middle guy who's job is to hand ball to the intended recipient (The Chinese ). A certain German c--t comes to mind . Zijin want total control of Manono . If there is a reasonable offer $$ on the table for AVZ to move on Nigel should consider it IMO .

 

[Flight996]

Cheers . "Renegotiating the contract ." Zijin now hold 72 % of that copper project. (cu grade over 4% ). There's always the middle guy who's job is to hand ball to the intended recipient (The Chinese ). A certain German c--t comes to mind .

Classic Chinese playbook.

Yup, in the end this looks like being a negotiated settlement.

Cheers
F

 

[TDITD]

Cheers . "Renegotiating the contract ." Zijin now hold 72 % of that copper project. (cu grade over 4% ). There's always the middle guy who's job is to hand ball to the intended recipient (The Chinese ). A certain German c--t comes to mind . Zijin want total control of Manono . If there is a reasonable offer $$ on the table for AVZ to move on Nigel should consider it IMO .

$12

 

[Frank]

Fucking Zijin are spreading a whole heap of shit all over twitter at the moment.
Good opportunity to put em in their place given their track record of corruption, human rights abuses and environmental damage.

 

[Samus]

Curtain on the government seminar. Before the Head of State, the ministers signed an ethical commitment to wage a fierce battle for good governance and the fight against corruption. Adherence to the presidential vision, a true act of ethical faith.

Without direct sanctions these people will never change Madam. They changed the way the Head of State could set a productive dictatorship in motion. The steal is in the DNA now...

 

[Samus]

DRC: the IGF at the top of the institutions that fight effectively against corruption (GEC)

April 26, 2021 - April 26, 2023, it has been exactly two years to the day that the government of the Republic has totaled two years since its investiture in the National Assembly. It is with this in mind that the Study Group on the Congo (GEC) and Ebuteli, its research partner in the DRC, with the Bureau of studies, research and international consulting (Berci) make public the results of a new survey on the march of the country since the accession of Felix Tshisekedi to the supreme magistracy.

In this third and final thematic note entitled nearly 58% of Congolese believe that the country is going in the wrong direction, it was revealed that Congolese are dissatisfied with the action of the government. According to the survey carried out in mid-January, more than 70% of Congolese say they are disappointed with the action of the Sama Lukonde government in the social field.
The lack of effectiveness of the executive in reducing unemployment and poverty certainly justifies this feeling. It also affects the perception of the Congolese on the head of state and his head of government.

This thematic note confirms the persistence of corruption in the DRC. More than 30% of Congolese believe that the latter is the greatest evil that plagues governance in the country, followed by tribalism (16.91%), clientelism (11.29%) and impunity (10.38%). ).
However, the IGF, attached to the presidency, is at the top of the institutions that fight effectively against corruption for 55.50% of Congolese surveyed, far ahead of the Court of Auditors (8.84%) which nevertheless has a key role to play. contribute to the sound management of public finances.

“The revitalization of the IGF remains one of the great successes of the Head of State's five-year term in the fight against corruption: in four years, the IGF has revealed how deeply corruption is rooted in the system Congolese, thus paralyzing the country's economic development. But these efforts remain incomplete due to the absence of effective justice,” confirms Jacques Mukena, principal researcher in the governance pillar.

Upon his appointment, the Inspector General of Finance, head of service, Jules Alingete Key, found a service known only to the high political sphere but totally unknown to the average Congolese, while this institution was created by ordinance n ° 87- 323 of September 15, 1987 of Marshal Mobutu in 1987. At its creation and during the long reign of Mobutu (32 years) as during the 21 years of the reign of the Kabila (father and son), the IGF was a service without actions of great wingspan.
It plays a big role in mobilizing public revenue with its financial patrol. This general financial patrol in public finances, according to Jules Alingete, remains the main key to the eradication of anti-values in public management. This has enabled the State to reach a level of mobilization of own public revenue of the order of 10 billion USD, whereas before 2020, this mobilization stood at 3 billion USD. And this performance is achieved despite the various global crises that have negatively impacted the global economy, from 2020 to date (Covid-19, Russian-Ukrainian war).
Clement MUAMBA

RDC : l’IGF en tête des institutions qui luttent efficacement contre la corruption (GEC)

26 avril 2021 - 26 avril 2023, cela fait exactement deux ans jour pour jour que le gouvernement de la République totalise deux ans depuis son investiture à l'Assemblée nationale.

actualite.cd

 

[Coulomb]

Fucking Zijin are spreading a whole heap of shit all over twitter at the moment.
Good opportunity to put em in their place given their track record of corruption, human rights abuses and environmental damage.

I was following all of this today and was happy to observe the abundance of likes on AVZ friendly (or anti-Zijin) replies, meanwhile the BS Zijin propaganda received almost no positive attention. I of course like everything from our usual Twitter superheros daily.

 

[Xerof]

@JAG

Mate, the Paris gif needs an updated timeframe, as it’s now July

 

[JAG]

@JAG

Mate, the Paris gif needs an updated timeframe, as it’s now July

@Spikerama

 

[Spikerama]

@Spikerama

I updated it when the new dates were announced. If it's not showing refresh browser.

 

[JAG]

I updated it when the new dates were announced. If it's not showing refresh browser.

Struggling to find it mate.....is it me?

 

[Spikerama]

Struggling to find it mate.....is it me?

Are you using this link?

ICC International Court of Arbitration / Zijin vs AVZ Countdown

Shows the remaining days until the cheaters & liars & true law abiders are revealed to the world.

icc-zijin-vs-avz-corruption-countdown.netlify.app

 

[JAG]

Are you using this link?

ICC International Court of Arbitration / Zijin vs AVZ Countdown

Shows the remaining days until the cheaters & liars & true law abiders are revealed to the world.

icc-zijin-vs-avz-corruption-countdown.netlify.app

The Paris ICC one mate

 

[Winenut]

Are you using this link?

ICC International Court of Arbitration / Zijin vs AVZ Countdown

Shows the remaining days until the cheaters & liars & true law abiders are revealed to the world.

icc-zijin-vs-avz-corruption-countdown.netlify.app

seemed to work okay for me Spike

 

[Dazmac66]

How can an ICC time table fuck up postpone a hearing regarding a multi- billion dollar operation with tens of thousands of dollars being squandered daily. What a fucking joke. I wonder how much of a stink AVZ's highly paid lawyers put up??