CashKing
Regular
Wtf wait did we all get our Money back somehow ? Fuxk I need to log in to Westpac app this is breaking news….Welcome back Money.......
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Frank
Top 20
*Fyi,
Kin-Beijing cooperation: "Why is President Felix Tshisekedi going to China?
Congolese President Felix Tshisekedi will travel to China for the first time at the end of May to renegotiate the mining contracts signed by his predecessor for a total amount of 6.2 billion dollars.
Business is business.
The Congolese President wants a rebalancing of certain contracts with Beijing and will therefore travel to China to negotiate next week, reports Agence Congolaise de Presse.
Felix Tshisekedi is particularly targeting the mineral-for-infrastructure contract signed by former President Joseph Kabila in 2008.
It would be the Congolese leader's first visit to the Middle Kingdom, according to Bloomberg.
The $6.2 billion deal sees Chinese state-owned companies fund infrastructure projects using proceeds from a copper and cobalt mine.
But Felix Tshisekedi had already criticized its content in recent months, telling Bloomberg that it was "poorly written" and that the DRC derived "no benefit" from it.
In February, the Congolese General Inspectorate of Finance (IGF) for its part denounced "a disproportionate collaboration" to the detriment of the country, deploring that Chinese investors have only mobilized 822 million in financing in 14 years.
Kinshasa therefore hopes for a rebalancing to really make the agreement win-win.
"The objective is to consolidate and further expand Sino-Congolese cooperation based on sound foundations guaranteeing the principle of mutual respect, fairness and transparency beneficial to both the Congolese people and the Chinese people. "said government spokesman Patrick Muyaya on state television.
Towards an agreement between GĂ©camines and CMOC
The DRC is also negotiating a definitive agreement with the Chinese CMOC Group, reports Bloomberg.
The latter is in conflict with the Congolese state company GĂ©camines, over the Tenke Fungurume copper and cobalt mine.
Exports were halted last June as GĂ©camines claims CMOC owes billions in royalties.
The two companies are close to reaching a resolution, but have not yet signed a final agreement, Gecamines Chairman Guy-Robert Lukama told Bloomberg.
China remains the DRC's biggest trading partner, with the two nations trading 21.7 billion in 2022, according to data compiled by the US media.
China is the main destination for Congolese copper and cobalt, key minerals for the design of electric car batteries.
The country also produces 70% of the world's cobalt.
mediacongo
Xerof
Have a Cigar 1975
Thanks Carlos, so as tight as two coats of paint.
Frank
Top 20
Fiscal year 2023: FĂ©lix Tshisekedi instructs the Government and the IGF to supervise control operations in revenue mobilization
The President of the Republic, FĂ©lix Tshisekedi gave instructions to the Minister of Finance Nicolas Kazadi to organize and supervise the operations relating to the tax audit for the 2023 financial year, as well as that of the automatic taxation of taxable persons who default on tax on profits.
This, with the support of the General Inspectorate of Finance.
These instructions were given to members of the government during the 99th Council of Ministers held on Friday May 19, 2023, the report of which was made by the Minister of Communication and Media, Patrick Muyaya.
According to the government spokesman, this measure taken by the Head of State will enable the Ministry of Public Finance to recover all the rights due to the State for the tax deadline of April 28 of the current year.
This, he continues, could put an end to the low rate of declaration during the tax deadline of the month of April last in the collection of the tax on profits and profits (IBP), observed in the head of the taxable persons.
Felix Tshisekedi also called on the members of the government to grant more speed in the materialization of the acts generating public revenue provided for in the 2023 Finance Law.
“By deciding to send control missions these companies will have to pay penalties. This is an arrangement that will cause the adjusted charges to be paid by the due date.
This will certainly have an impact on the forecasts adopted by the DGI which could not be unrealizable, ”reveals the same source.
mediacongo
The President of the Republic, FĂ©lix Tshisekedi gave instructions to the Minister of Finance Nicolas Kazadi to organize and supervise the operations relating to the tax audit for the 2023 financial year, as well as that of the automatic taxation of taxable persons who default on tax on profits.
This, with the support of the General Inspectorate of Finance.
These instructions were given to members of the government during the 99th Council of Ministers held on Friday May 19, 2023, the report of which was made by the Minister of Communication and Media, Patrick Muyaya.
According to the government spokesman, this measure taken by the Head of State will enable the Ministry of Public Finance to recover all the rights due to the State for the tax deadline of April 28 of the current year.
This, he continues, could put an end to the low rate of declaration during the tax deadline of the month of April last in the collection of the tax on profits and profits (IBP), observed in the head of the taxable persons.
Felix Tshisekedi also called on the members of the government to grant more speed in the materialization of the acts generating public revenue provided for in the 2023 Finance Law.
“By deciding to send control missions these companies will have to pay penalties. This is an arrangement that will cause the adjusted charges to be paid by the due date.
This will certainly have an impact on the forecasts adopted by the DGI which could not be unrealizable, ”reveals the same source.
mediacongo
Carlos Danger
Top 20
It would seem so. There's certainly no question that 10% needs to go to the DRC government in the mining code. Cominiere's commitment doesn't specify a percentage. It requires them to 'comply with an obligation resulting from the law then applicable' and 'transfer free of charge to the DRC part of its participation in Dathcom'. Neither AVZ or Dathomir have this listed in their commitments in the JVA.
I've read through the entire document and couldn't see another section that refers to this matter. But it's a long document and my French is okay but not fluent so I may have missed it. Cominiere's commitment was written this way without the specified 10% just in case the percentage required to cede to the DRC government was changed in the mining code imo
But this isn't the way the MoP sees it. She expects the 10% to be ceded on a pro rata basis.
9cardomaha
Regular
Regarding the joint case and ICC request that was submitted, peeps who want a gander hit me up on PM. Unfortunately still gonna slightly gatekeep and not just pump and dump it like DG's mum/sister.To Infinity & Beyond
Re: The reason that the DRC president is visiting Beijing
I stated a few weeks ago that I believed Felix's visit to Beijing was primarily for security talks due to increased rebel activities in the NE of the DRC, particularly activities sanctioned by Uganda and Rwanda. Well I was wrong.
According to Aljazeera.com (23 May 2023) the visit is to ink new minerals-for- infrastructure contracts. Given Beijing's quest for global mining and battery domination, Manono may get a mention. It's kinda the elephant in the room.
Ref: https://www.aljazeera.com/news/2023...his-week-minerals-trade-deal-signing-expected
Cheers
F
Felix could be playing both sides. See what he can get from china and if he isn't satisfied then they don't get manono.
It will cost him an eye-watering amount in the tens of billions if he trades it away to those rodents.
We would like to think so
If it looks like a duck, walks like a duck and quacks like a duck comes to mind here .The chances Manono is on the menu I'd say is around 100% . Now if they would just like to pay us for it we could all move on . imo
The problem is that Felix and his officials hold the trump card...the mining licence.
Just imaging the conversation around "Well, we could trade you Manono and expedite the ML in return for..."
You know Zijin's price, it is not that hard to compute...
90/15 x 33,400,000 = ~$200,000,000 reduce that by the amount that Zijin is claiming in damages and AVZ has to pay Zijin ~$650,000,000 + AVZ's interest in Dathcom.
Oops make that 75/15
You gotta be happy with that.
Carlos Danger
Top 20
The problem for Felix and his officials if their intention is to rat fuck AVZ is Dathcom are the applicant that have completed the DFS. Any new application would need to go through the whole process again under the mining code. Including new drilling for JORC certification. Which will delay the project years and cost them billions in damages.
Yes, I agree.
However, due process, procedural fairness and the rule of law are foreign notions to those pricks.
Felix and his compliant administration could simply change the status quo, and award the tenement to Rodent Inc with the stroke of a pen. Just like the MoM did in withdrawing the ministerial decree that originally awarded the ML to Dathcom.
And they would simply plagiarise AVZ's exploration data, which is in the public domain in order to arrive at a Chingo JORC.
However, the resultant damages claim may be prohibitive.
Cheers
F
Xerof
Have a Cigar 1975
Why it's not as if they'll pay it. God we can't even get a ml what chance do you think we have of getting 10 bill fuck all and none. imo
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