AVZ Discussion 2022
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John25
Regular
The international press SHOULD call him out on this “Open for business “ crap …honestly where’s the revenue coming from too pay these clowns dressed in Suits…….Farken forgot about the brown paper bags
how remiss
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Carlos Danger
Top 20
You need to appreciate what Felix Tshisekedi has gone through to get where he is. Once you understand his family legacy and the level of corruption that he needs to unravel it becomes clear why this is taking so long. Strong lions create good times in the pride lands imo
'The evil ran very deep' - DR Congo making headway on corruption, says finance inspector | News24
The Democratic Republic of Congo has the reputation for being one of the world's most graft-prone countries, ranking 170th out of 180 nations in Transparency International's 2020 Corruption Perception Index.
Kinshasa – The Democratic Republic of Congo (DRC) has the reputation for being one of the world's most graft-prone countries, ranking 170th out of 180 nations in Transparency International's 2020 Corruption Perception Index.
But the DRC's recently appointed chief inspector of finance, Jules Alingete Key, says the situation is changing.
Hundreds of millions of dollars have been netted in an anti-corruption drive sparked by an overhaul of his team and a recruitment drive, he told AFP in an interview.
President Felix Tshisekedi, who made the fight against corruption a keystone of his 2019 election campaign, appointed Alingete, 58, head of the General Financial Inspectorate (IGF) in July last year.
Alingete said:
We (found we) had to deal with people who are born into corruption, who grow up immersed in corruption and who consider that corruption and embezzlement are normal.
"The evil ran very deep and very high. We opted to take a tough line... and our methods have had tangible results," he added.
Before, IGF inspectors would go for "small fry", but they now focus on a much wider field, "from simple accountants to managers of public companies and all people who handle public money, including members of government," Alingete said.
In 2020, government income was less than $400 million on average per month, he said.
A crackdown on false claims for tax exemptions began in August 2020, and from March 2021 revenue rose to at least $500 million per month and has sometimes reached $900 million, he said.
Other scams uncovered by the reformed IGF, he said, were overbilling, backdated commissions, illegal transfer of funds and fake documents.
"The most spectacular thefts that we have recorded have been the work of people who are highly placed in state enterprises, in government," he said.
He said:
This area, by the way, is where we have been concentrating most of our efforts. With lower-level officials, it's $100 000 or $200 000 which is siphoned off, but the higher up you go, it's millions of dollars.
At first, help from prosecutors "was difficult", but "when the facts are there, the justice system gets involved. There have been many trials and sentences handed down to senior officials", Key said.
High-profile figures targeted by IGF investigations include Governor Atou Matubuana of Kongo Central province.
He was accused in August of "diverting" 17.4 billion Congolese francs ($8.7 million) in government expenditures last year – spending that his office said was a traditionally accepted benefit for governors.
Alingete said that his unit was still overcoming problems with staff numbers, and this for now limited its investigative scope.
When he took over, the IGF had "at the most" 80 inspectors, nearly half of whom were of retirement age, he said.
"Today, we are increasing our capacity to intervene, and will reach cruising altitude in 2022. We will soon have 200 inspectors."
Felix will have Chinese pressure . To think otherwise is dreamland and fairytales . He's knows his masters want Manono . He's stuck between a rock and a hard place . Best thing for him is if AVZ just disappears . Not going to happen .
Why would Felix put the MoP in the clink when it looks like she is mobilising her supporters in favour of his re-election?
https://lepotentiel-cd.translate.go...tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Like its moral authority embodying conviction and work on the ground for collective progress, the Alliance of Christian Democrats of Congo (ALDEC) remains in this dynamic. The party intends to line up in useful battle order in view of the electoral deadlines scheduled for the end of 2023. If its objective is to achieve a better electoral score in the national and provincial legislative elections, this political formation dear to Princess Adèle Kayinda Mahina clearly shows in favor of the re-election of Félix-Antoine Tshisekedi. Thus, the three-day retreat, organized at the end of December 2022 in Kinshasa, will have enabled its national and provincial executives, who have come from all over the Republic,to refine strategies while sharpening the skills of effective and methodical mobilization to achieve electoral objectives. And the major objective being that of "Fatshi concrete or nothing in 2023", as the moral authority of the party, the Minister of State in charge of the Portfolio, Princess Adele Kayinda, clearly said.
"While welcoming the start of the ongoing electoral process, I encourage you to mobilize our activists to enlist massively, in order to ensure a consolidated parliamentary majority for the President of the Republic Félix-Antoine Tshisekedi Tshilombo" , said the Princess Adele Kayinda.
https://lepotentiel-cd.translate.go...tr_sl=fr&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Like its moral authority embodying conviction and work on the ground for collective progress, the Alliance of Christian Democrats of Congo (ALDEC) remains in this dynamic. The party intends to line up in useful battle order in view of the electoral deadlines scheduled for the end of 2023. If its objective is to achieve a better electoral score in the national and provincial legislative elections, this political formation dear to Princess Adèle Kayinda Mahina clearly shows in favor of the re-election of Félix-Antoine Tshisekedi. Thus, the three-day retreat, organized at the end of December 2022 in Kinshasa, will have enabled its national and provincial executives, who have come from all over the Republic,to refine strategies while sharpening the skills of effective and methodical mobilization to achieve electoral objectives. And the major objective being that of "Fatshi concrete or nothing in 2023", as the moral authority of the party, the Minister of State in charge of the Portfolio, Princess Adele Kayinda, clearly said.
"While welcoming the start of the ongoing electoral process, I encourage you to mobilize our activists to enlist massively, in order to ensure a consolidated parliamentary majority for the President of the Republic Félix-Antoine Tshisekedi Tshilombo" , said the Princess Adele Kayinda.
TDITD
Top 20
Yes politics look to be saving the green mamba at the moment. It’s possibly a stretch but surely one could posit the suggestion she has disgraced her party, obviously crime is treated differently over there ?
You fuck up here your gone, she gets a free fucking ride after being caught red handed ffs.
Her party should be binning her and Ministry of justice should be taking on Jules great work at the IGF, but that’s somewhat coherent and logical.
Jesus Jean-Felix has been illegitimately holding his DG position for years now.
Must admit I’m struggling with the incomprehensible ‘methods’ of ‘justice’ atm. IGF good job, every other bastard, an absolutely fucking piss poor showing !!
(Great work also to the journalists Kiki & Frank, NGOs too)
Carlos Danger
Top 20
Weird flex by Tshisekedi's 'Chinese masters' to have him stop raw materials being exported out of the country and to take over operations at Tenke Fungurume last year to make sure the DRC was getting a fair deal. Probably some 4D chess thing that only wombat's understand.
DRC: China Moly court ruling shows Tshisekedi still in charge, says mining expert - The Africa Report.com
Contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought… and that he isn’t shy to use that power when necessary.
www.theafricareport.com
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum’s (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and the Chinese mining giant.
First and foremost, this is a significant setback for China Moly. Given its outsized role in the Congolese mining sector, the court’s ruling is a big deal, both symbolically and in practical terms. It sends the message that Chinese mining interests are not untouchable in the DRC and that Congolese authorities retain considerable power in this relationship.
It also shows that contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought and that he isn’t shy to use that power when necessary.
obe wan
Regular
On that topic of DRC banning exportation of Raw materials (cobalt / copper being the focus materials at this stage as these are readily mined ) ; DRC looking for battery metals to be processed within country.Weird flex by Tshisekedi's 'Chinese masters' to have him stop raw materials being exported out of the country and to take over operations at Tenke Fungurume last year to make sure the DRC was getting a fair deal. Probably some 4D chess thing that only wombat's understand.
DRC: China Moly court ruling shows Tshisekedi still in charge, says mining expert - The Africa Report.com
Contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought… and that he isn’t shy to use that power when necessary.
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum’s (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and the Chinese mining giant.
First and foremost, this is a significant setback for China Moly. Given its outsized role in the Congolese mining sector, the court’s ruling is a big deal, both symbolically and in practical terms. It sends the message that Chinese mining interests are not untouchable in the DRC and that Congolese authorities retain considerable power in this relationship.
It also shows that contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought and that he isn’t shy to use that power when necessary.
I posted an article written by Brad Thompson / AFR yesterday which stated that the Chinese provided the a bit more detail into FIRBs ‘contrary to national interest’ short response as to why it turned down Yibins investment into AVZ at 11.2%. … reasoning ‘ ‘Raw material wouldn’t be returned to Australia for processing’ which I can only assume is true considering we only received a one liners from FIRB which lacked substance ; it was prior to any ban on raw materials from DRC ; it was also before any feasibilities ; I doubt AVZ would include such costs within their calculations per tonne in any case I.e transporting Raw material back to Australia for processing .
With DRC ban on raw materials ; Battery metals (which will include Lithium) being processed within DRC. BFS, will not include transport of raw back to Oz for processing .
What’s your thoughts on a potential chink in the armor of the thoughts that FIRB won’t let the Chinese at AVZ ..
If what the Chinese said was true ; it’s not an excuse FIRB can use again for a project outside of Australia where raw materials are highly unlikely to be exported by government order in any case
MoneyBags1348
Top 20
Weird flex by Tshisekedi's 'Chinese masters' to have him stop raw materials being exported out of the country and to take over operations at Tenke Fungurume last year to make sure the DRC was getting a fair deal. Probably some 4D chess thing that only wombat's understand.
DRC: China Moly court ruling shows Tshisekedi still in charge, says mining expert - The Africa Report.com
Contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought… and that he isn’t shy to use that power when necessary.
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum’s (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and the Chinese mining giant.
First and foremost, this is a significant setback for China Moly. Given its outsized role in the Congolese mining sector, the court’s ruling is a big deal, both symbolically and in practical terms. It sends the message that Chinese mining interests are not untouchable in the DRC and that Congolese authorities retain considerable power in this relationship.
It also shows that contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought and that he isn’t shy to use that power when necessary.
Your article is getting towards a year old Carlos. The dispute came about because CMOC was understating their exports and revenue.
The DRC govt backed Gecamines (State owned by the DRC - just like Cominiere…. and dare I say both corrupt companies) and appointed an administrator…. Then the man with the shrunken head (Lukonde) interfered, giving control back to CMOC.
Gecamines is still seeking compensation from CMOC for what it says is underpaid revenue from production and exports…. That’s just from memory of it
Funny (peculiar) that Lukonde who previously was head of Gecamines was siding with CMOC
Moving forward…. Now CATL is taking a stake in CMOC and CMOC is seeking legal action against the DRC
World’s top battery maker CATL grabs stake in DRC cobalt-copper miner
China’s Contemporary Amperex Technology Co Ltd (CATL), the world’s largest battery maker, will buy a 25% stake in CMOC Group (previousl...
CMOC hits back as Congo's Gecamines seeks damages in copper, cobalt mine dispute
CMOC, formerly known as China Molybdenum, has criticised excessive fees from the Democratic Republic of Congo's (DRC) state-owned mining company Gecamines, which is demanding compensation for higher copper and cobalt reserves at its Tenke...
Carlos Danger
Top 20
Yes I'm aware. The point of sharing the article was to show that Tshisekedi is willing to take action against Chinese companies and the idea that the Chinese are his masters is completely absurd. I wasn't trying to give an up to date account of what's happening at Tenke Fungurume.Your article is getting towards a year old Carlos. The dispute came about because CMOC was understating their exports and revenue.
The DRC govt backed Gecamines (State owned by the DRC - just like Cominiere…. and dare I say both corrupt companies) and appointed an administrator…. Then the man with the shrunken head (Lukonde) interfered, giving control back to CMOC.
Gecamines is still seeking compensation from CMOC for what it says is underpaid revenue from production and exports…. That’s just from memory of it
Funny (peculiar) that Lukonde who previously was head of Gecamines was siding with CMOC
Moving forward…. Now CATL is taking a stake in CMOC and CMOC is seeking legal action against the DRC
World’s top battery maker CATL grabs stake in DRC cobalt-copper miner
China’s Contemporary Amperex Technology Co Ltd (CATL), the world’s largest battery maker, will buy a 25% stake in CMOC Group (previousl...markets.businessinsider.com
View attachment 26384 View attachment 26385 View attachment 26386CMOC hits back as Congo's Gecamines seeks damages in copper, cobalt mine dispute
CMOC, formerly known as China Molybdenum, has criticised excessive fees from the Democratic Republic of Congo's (DRC) state-owned mining company Gecamines, which is demanding compensation for higher copper and cobalt reserves at its Tenke...www.rough-polished.com
Carlos Danger
Top 20
I think a Chinese company could get around FIRB very easily if they buy out AVZ and take it private. I agree with your take on the board seat too but think shareholders would act if that happened now that they are aware that these games are possible.
Nigel said at the German roadshow in April that a take over offer had been received by the board but they didn't consider it serious enough to announce to the market. That offer was from Zijin imo. Other Chinese entities have made offers over the years too. They are obviously very confident that they can buy out AVZ if the price is right.
TDITD
Top 20
Well if it’s that simple, bound them by a timeframe whoever is responsible for regulating CAMI. Therein lies a problem itself as nobody seems to know.
One question is why are the Chinese seemingly fighting the Chinese over AVZ, not what the Chinese do.
The Chinese exist in various forms . The Chinese own the Green Grub and the CAMI prick . Unless Felix is going to do something about these scum bags then we are p1ssing in the wind . He has all the proof . If he does nothing then he is as bad as they are. I'm not saying he wont but time is our enemy and our enemies know it . IMOWeird flex by Tshisekedi's 'Chinese masters' to have him stop raw materials being exported out of the country and to take over operations at Tenke Fungurume last year to make sure the DRC was getting a fair deal. Probably some 4D chess thing that only wombat's understand.
DRC: China Moly court ruling shows Tshisekedi still in charge, says mining expert - The Africa Report.com
Contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought… and that he isn’t shy to use that power when necessary.
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum’s (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and the Chinese mining giant.
First and foremost, this is a significant setback for China Moly. Given its outsized role in the Congolese mining sector, the court’s ruling is a big deal, both symbolically and in practical terms. It sends the message that Chinese mining interests are not untouchable in the DRC and that Congolese authorities retain considerable power in this relationship.
It also shows that contrary to what many people have assumed, President Félix Tshisekedi may have a lot more room to maneuver against the Chinese mining giant than many had previously thought and that he isn’t shy to use that power when necessary.
Mr Inappropriate
Regular
If and when this current shitshow ends there will be a stream of takeover offers IMO. I want us to go mining but I can’t see us getting that far.
MoneyBags1348
Top 20
I think you are missing the point of my post Carlos…. The reason Felix took action against CMOC was because they weren’t declaring how much cobalt they were mining and exporting, and as a result they were ripping off the DRC govt as well as Gecamines.
For months now Felix has been parading himself around the world telling everyone what a great place the DRC is to do business, and recently having photos of himself all chummy with Lukonde, who clearly appears under the influence of the Chinese.
I’ve put plenty of stuff on here about Lukonde, he overrided the decision to have administrator’s take authority over CMOC, he is the previous head of corrupt Gecamines, he is politically affiliated with Adele Kayinda and he obviously has known for months what is going on in relation to Mupande (DG if CAMI), Adele Kayinda (MoP), the IGF Report, Cominiere, Zigin and Simon Cong (Dathomir).
Given Lukonde has known what has been going on for months and not a fucken peep out of him on any of it….
I would have been interested in your thoughts on CATL taking a stake in CMOC but the truth is I'm sick of the DRC and AVZ and I’m hoping @zeeb0t will permanently suspended me because for some reason I keep finding myself back in this place posting more shit on the corrupt cunts in the DRC
Done, thank fuck
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obe wan
Regular
Yes this has always been my view; I always expected Chinese or others to make a move on AVZ and for them to come in quickly , after they waited for AVZ to take the risk and go through the hurdles in getting the ML; once ML was in hand then it was who‘s quickest off the picket fence.
I suspect Zijin and all other interest parties expected the same thing; however Zijin / CAMI and co have likely caused the other potential movers to climb back on to the fence whilst this shit is worked out ; however Zijin , affiliates & crook friend likely using this mess to stitch up AVZ.
Should AVZ manage to come out of this , I think Zijin are cooked and will get not a thing even with regard to offtakes ; I’m sure Nigel would tell them to jog on ; but I’d suspect that we’d have offers tabled pretty soon after ML stamped.
heard a couple of times in the past the number of $5bUS mentioned and being the figure that interest would only start to agitate at; since then more drillings has taken place with massive intercepts to firm up more Jorc tonnage and this to the south alone ; it’s unfortunate that we are going through this mess , other lithium plays would be loving it as they rush through into production , even happy to just knock out DSO whilst Dathcom/AVZ tries to shake of these dogs…
i somehow doubt AVZ are going to come out of this this totally intact .I.e. North and South ; 10% to government , ROFR accepted and taken up. I suspect higher percent at 15% to the government along with a few more frills ; ROFR % likely goes elsewhere ; hoping, as it should 13559 is granted to AVZ as a whole and the tailings fall within this granting. That or 80% of that and it’s red hot for TO advances ; north carved out and I think you have a few hmmm noises being made , as the north from that point would likely head into Chinese hands and those guys would just swamp infrastructure capacity leaving it difficult in the short / medium time for operators in carrier as they would likely have a grant of ML with a 10 page application passing through cami in record timing and boots on the ground before the rest
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