AVZ Discussion 2022
- Thread starter GazDix
- Start date
Samus
Top 20
Isn't high spirits just before you're about to die?@geo_au
Whats the goss..
You can tell us here, we are good people
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Meanwhile us, the sane ones
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1/2 #Tanganyika
: Governor Julie NGUNGWA prohibits the production and sale of Great Lakes Cement products 
.Refusal to pay a bribe of US$450,000 and compulsory payment of US$1 per bag of cement to the governor, denounces
@nskazadi
@financesrdc
2/2 Ernest #Mpararo LICOCO. Non-payment of taxes to the province, GLC would work without official document and sell cement at high prices, defends the governorate. For LICOCO, this decision rests with the national Minister of the Economy and not with the governor. Kiki #Kienge
So this is how business runs, will they ever change.
US$1 for every bag of cement to the governor, I wonder what she charges for a bottle of gin ffs.
I wonder whether Geo knocked shoulders with DEBOSS...@geo_au
Whats the goss..
You can tell us here, we are good people
View attachment 32018
Meanwhile us, the sane ones
If that was the case, then put the hard on back in your pants....
Frank
Top 20
Chinese contract: "The business climate should not be confused with predation", Jules Alingete responds to Chinese companies
In a letter sent on March 5 to the President of the Republic, Félix Tshisekedi, the Union of mining companies with Chinese capital -USMCC-, created in 2017, claiming 42 members including 25 mining companies and 17 mining service companies, the production in 2022 of 1,850,000 tons of copper and more than 85,000 tons of cobalt, representing respectively 80% and 76% of national production for 3 billion dollars as well as the creation of 60,000 jobs, protests against both the Presidency of the Republic, the Parliament, the Minister of Finance, the financial authorities and the General Inspectorate of Finance -IGF-, all accused of pursuing Chinese companies, referring in particular to the Tenke Fungurume Mining and Sicomines cases, and crying out about the deterioration of the business climate.
The letter also accuses the tax authorities and even the partners and the Parliament of imposing astronomical fines on them even though they have no reason or proof of a violation.
Chinese companies also say they were shocked by the February 15, 2023 release of the IGF China Contract Report.
“We found that this report makes many baseless accusations against Chinese companies without mentioning any of the benefits that the Chinese Contract has offered to the Congolese side such as helping DR Congo to overcome its financial difficulties, the promotion of the return of international investors to the DRC, the considerable increase in Congolese mining production capacity, the establishment in a strategic market of China, the significant dividends paid to the Congolese party, the creation of many local jobs and the construction of a large amount of infrastructure”, described the president of this structure, a certain Gong Qingguo, not otherwise identified.
Then: "Furthermore, the publication of this report caused enormous media hype, which not only damaged the friendly atmosphere of Sino-Congolese cooperation and seriously tarnished the image of Chinese enterprises, but also undermined the confidence of our member companies in their investments in the DRC.
Due to the publication of such a report by a public institution of a friendly country that is the DRC, we cannot help but worry deeply about the deterioration of the business climate in the DRC”.
Mesh starting with all!
Gong Qingguo prays to Felix Tshisekedi “to properly settle differences and help companies solve problems in order to achieve common development”.
But, in reality, he does not want to admit that Chinese companies have trouble with all the services mentioned because of their behavior refractory to the laws of the country.
For example, Chief of Staff Guylain Nyembo is tracking China Molybdenum Co for manipulation of finances in its partnership with Gécamines in Tenke Fungurume Mining.
Connoisseurs advance 5 billion dollars.
The Minister of Finance, Nicolas Kazadi, claims super profits from Chinese companies operating in the mining sector.
The financial authorities complained about their fiscal incivility when the General Inspectorate of Finances -IGF- published a report damning the Chinese contracts, deemed unbalanced and unfavorable to the Democratic Republic of Congo, and another on the selling off of the shares of la Cominière undervalued for the benefit of Dathcom Mining, before launching, at the beginning of March, a vast control on the receipts of tolls managed by the Chinese companies SOPECO and SGR.
The first official to react to this missive, the Inspector General of the IGF, Jules Alingete Key, reserves a firm response to these tendentious accusations from Chinese companies, while ensuring that he has no particular anti- Chinese and sweeping away the thesis of the deterioration of the business climate.
Rather, he argues, in an interview with AfricaNews, "the patriotic, legitimate feeling of defending, regardless of the Regime, the interests of the Democratic Republic of Congo before all national and international predators, whatever their origin".
“There is no anti-Chinese sentiment. Nor is there any deterioration in the business climate.
The business climate should not be confused with predation.
It only exists for serious investors and not for fraudsters," he asks, asking why these Chinese companies are experiencing exponential enrichment when their contribution to the State Budget in terms of tax is very insignificant and , worse, decreasing.
“Why do these companies not pay the duties due to the State?
According to them, the business climate is the ease of defrauding and not paying taxes in a country? tolls on the roads of the Democratic Republic of Congo without building anything in return but to finance their private investments in the mining sector.
The Sicomines with a contract qualified as a new form of colonization, the funds for the tolls of the roads of the Republic with the Chinese companies SOPECO and SGR as well as the company Dathcom, the IGF swears, for its part, to engage in a fierce struggle to defend the interests and rights of the common country.
“The business world has only interests as a language.
We must at all costs defend the Democratic Republic of Congo against predation and hunt down its perpetrators, regardless of their origin.
This is the work of the IGF”, certifies and hits Alingete.
Gong Qingguo and his legion had better watch out, while at the Presidency, at Finance, at the IGF as well as at the DGI and the DGRAD, the reaction was unanimous: "Chinese companies must stop behaving as licensed fraudsters and to comply with the Laws of the country".
Why the IGF is scaring the hunted Chinese like never before…
The IGF seems to scare Chinese companies.
Since the advent of Jules Alingete, she has published two shocking reports on La Cominière and the Chinese Contracts at the origin of the birth of Sicomines.
The first led to the arrest and imprisonment, since November 2022 in Makala, of the Director General of Cominière, Athanase Mwamba Misao, and its Technical Director, Célestin Kibeya, two agents accused by the IGF and prosecuted by the Prosecutor. general to the Kinshasa/Gombe Court of Appeal for illegal transfer of Cominière's undervalued shares in Dathcom Mining and poor management of dividends estimated at 33.5 million dollars.
Devoted to Chinese Contracts and Sicomines, the second IGF report overwhelms the Chinese side, which did not respect its commitments but alone swallowed up more than 10 billion dollars against less than 800 million dollars for the Democratic Republic of Congo, before denouncing the overbilling of the infrastructure markets linked to this deal.
Thanks to this pressure from the IGF, Sicomines, unpacked, agreed to let go of a piece, i.e. 500 million dollars payable in two installments, just for the year 2023, while the IGF is calling for negotiations to lead to the payment of 1 billion dollars by the Chinese.
At the same time, Justice, refusing to remain passive in the face of such abuses and anti-values, decided to track down the perpetrators of the overbilling of Chinese contract work.
In the viewfinder of the Attorney General in charge of the case: the Congolese Agency for Major Works -ACGT-, the Works Monitoring and Coordination Office, formerly headed by Moise Ekanga, currently staying in Brussels, and Sicomines.
Alingete does not cross his arms.
Driven by his flair, he undertook, this time, to scratch the toll rights installed on the National 1 Kinshasa-Matadi-Boma in Kongo Central, the Lubumbashi-Kasumbalesa road in Haut-Katanga and the road linking Lubumbashi to Kolwezi, capital of the province of Lualaba.
In Kongo Central, the management of these rights falls to SOPECO and for Grand-Katanga this responsibility lies with the SGR.
On March 6 in the capital, Alingete brings together the managers of these two companies to announce the start of the mission of the IGF spread over the revenues made during the last 12 years, i.e. between 2010 and 2022.
In 2021 in Kongo Central, the president of the Provincial Assembly, Jean-Claude Vuemba, already castigated the poor management of SOPECO staff and demanded his departure.
“If nothing is done, there will be serious measures against this company managed by the Chinese”, thundered the president of the deliberative body of this province.
The same year, the NGO Congo is not for sale -CNPAV- warned of a major conflict of interest in the management of the Lubumbashi-Kasumbalesa toll, pointing the finger at a monk from the former presidential family.
According to CNPAV, the management of this strategic section, the main export route for copper and cobalt ores, has long opposed Sicomines to the interested party.
Some time later, Sicomines withdrew in favor of the latter's company, which continues to benefit and collect the money from this toll.
Dathcom Mining, SICOMINES, SOPECO and SGR have one thing in common: Chinese tycoon Simon Cong.
"In addition to these four companies, Sieur Cong has interests in Tenke Fungurume Mining, the Hotel du Fleuve and various other mining operations across the country", reveals a source at the General Directorate of Taxes -DGI-, specifying that this man of business and its companies are reluctant to pay taxes and duties due to the state, suggesting that the IGF must have detected unorthodox clues and established shady connections between these companies before launching its investigations.
From the Dathcom affair to the tolls, the chief cop of the IGF begins to poke his nose too much into the opaque affairs of the Chinese wealthy, of his financial empire and to discover their modus operandi.
Chased and cornered like never before, Chinese companies seem to be stunned.
They are forced to defend themselves... awkwardly, by shifting the debate, by wanting to present the Inspector General, head of the IGF as this personality who maintains and cultivates anti-Chinese sentiment in the Democratic Republic of Congo.
mediacongo
Mining Indaba: producing batteries in the DRC and Zambia to develop minerals locally
Last month in Cape Town, South Africa hosted the Mining Indaba, the major annual gathering of players in the African mining sector.
The opportunity to come back to various issues around mines on the continent.
Among the key metals, those essential for the manufacture of batteries for electric vehicles that the DRC and Zambia have.
The two countries no longer want to be content with exporting these minerals, they have signed a project which is in the process of seeing the light of day.
With more than 70% of the world's cobalt production, untapped lithium resources, as well as manganese, nickel and copper mines, the Congolese-Zambian region has many ingredients necessary for the manufacture of electric batteries.
A cross-border special economic zone should soon see the light of day, in Haut-Katanga and the Copperbelt following the signing, last year, of an agreement between the DRC and Zambia and other partnerships are being forged, as detailed by the Congolese Minister of Mines, Antoinette N'Samba Kalambayi: "We were in the United States in November with the President of the Democratic Republic of Congo, where we signed an agreement. We are in the implementation phase”.
China has also expressed interest in bringing its expertise to the DRC.
As for financing, we are expecting the first announcements soon, according to Louis Watum, president of the Congolese Chamber of Mines and general manager of the Kipushi Corporation: "We are finally going to announce the financing of the first phase, which will not only include everything it is necessary to finance the installation of this special economic zone, but also to finance the start of research and part for a prototype, specifies Louis Watum, a kind of pilot plant for the first models of the elements of the batteries that we are going to start to do.
It’s a long journey,” adds the president.
Fewer border blockages
The project is based on a study by BloombergNEF, which estimates that the DRC could manufacture batteries at unbeatable costs.
For the Zambian Minister of Mines, Paul Kabuswe, it will also be necessary to make progress on cross-border blockages: “We will coordinate to develop essential infrastructure, such as the train and the roads and to facilitate the crossing of the border.
It is shocking to see, at the border posts of Kasumbalesa and Chililabombwe, all these trucks blocked. What's the cure for all this? »
Local transformation
In order to develop training and research, an African Center of Excellence on batteries (CAEB) has already been launched in Lubumbashi.
According to Jean-Marie Kanda, its coordinator, there remains another point on which to work: "It is on the accompaniment or the interest of the mining companies, which produce either cobalt, or which will produce lithium, and which must reserve part of their production for local processing.
Because for the moment the export is mainly to China, but the DRC and Zambia would like local processing”.
A feasibility study has yet to come to determine the cost and viability of the project. But African authorities are already hoping that the Continental Free Trade Area (Zlecaf) will make it possible to develop other collaborations of this type between countries.
mediacongo
CATL smashes profit estimate as EV sales soar
China’s Contemporary Amperex Technology Co. Ltd. reported annual earnings that beat estimates on stronger demand for cleaner cars, underscoring its dominance as the world’s biggest maker of batteries for electric vehicles.
The Tesla Inc. supplier on Thursday reported net income for the 12 months ended Dec. 31 of 30.72 billion yuan ($4.4 billion), an increase of 92.9% from the previous year.
That beat the median analyst estimate of 28.8 billion yuan, according to data compiled by Bloomberg, and was in line with CATL’s preliminary guidance in January for profit between 29.1 billion yuan to 31.5 billion yuan.
Revenue came in at 328.6 billion yuan, up 152% and in line with analysts’ forecasts.
CATL’s core power battery business, which in 2021 accounted for the majority of the company’s sales, generated margins of 17.2%, matching market estimates.
CATL also reported a strong performance in its fast-growing energy storage segment, which generated revenue of 45 billion yuan, ahead of expectations.
That’s an area of the business that billionaire Chairman Zeng Yuqun is taking a keener interest in, recently calling for stricter standards — a move that could benefit his firm at the expense of smaller rivals.
Meanwhile, CATL is on a global expansion push, with 13 production bases around the world including in Germany and Hungary, according to its website, and five R&D centers.
It’s mulling a Swiss GDR fundraise of up to $6 billion to fuel its many capital investments.
www.mining.com/web/catl-smashes-profit-estimate-as-ev-sales-soar/
China could control a third of the world’s lithium by 2025
China’s efforts to ramp up lithium extraction could see it accounting for nearly a third of the world’s supply by the middle of the decade, according to UBS AG.
The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705,000 tons by 2025, from 194,000 tons in 2022. That would lift China’s share of the mineral critical to electric-vehicle batteries to 32% of global supply, from 24% last year, according to a note on Friday.
The race to secure lithium is playing out at the highest levels, with nations including the US prioritizing access to the materials necessary for making batteries as the world turns away from fossil fuels.
China’s needs are particularly acute because it’s home to the world’s biggest market for new energy vehicles.
mining.com
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Samus
Top 20
CashKing
Regular
Yeah whooo hooo, my round… Actually just checked my bank sorry unless it’s water woohoo…We're all in high spirits!
All my shits down, US BANKS GOING UNDER WOHOOOO… My golds going good however..
GLTAH
Winenut
Go AVZ!
Only for the last 10 months...
Samus
Top 20
Dated March 5, 2023, the Chinese USMCC letter signed by Gong sent to PR05 @fatshi13 is written between the IGF invitations issued to Simon Cong MaoHuai toll companies and the meeting held on March 6. Chance or panic?
@Presidence_RDC
MoneyBags1348
Top 20
@Spikerama
It looks like Frank and Sammael have given you some good information for your next presentation
Here's a short summary from me if it's any help....
Chinese companies ripping off the DRC continue to insult the Inspector General of Finance
A recent letter to the President of the DRC from Chinese mining companies once again insults Jules Alingete, claiming the Inspector General of Finance makes baseless accusations against the Chinese.
The letter goes on to imply that the Congolese Government is not fulfilling its responsibilities and obligations and claiming that the Commissions conducted by the IGF disregard international practices.
Even more absurd is that these Chinese mining companies are claiming that the DRC's right to sharing in the benefits from its resources has made all the Chinese mining companies "worried and even frightened"
I doubt anyone in world believes that the Chinese are worried or frightened about anything given their invasion of Tibet and claims the South China Sea and Taiwan are under their control. We are all blatantly aware of their lack of answerability, accountability and morals
It looks like Frank and Sammael have given you some good information for your next presentation
Here's a short summary from me if it's any help....
Chinese companies ripping off the DRC continue to insult the Inspector General of Finance
A recent letter to the President of the DRC from Chinese mining companies once again insults Jules Alingete, claiming the Inspector General of Finance makes baseless accusations against the Chinese.
The letter goes on to imply that the Congolese Government is not fulfilling its responsibilities and obligations and claiming that the Commissions conducted by the IGF disregard international practices.
Even more absurd is that these Chinese mining companies are claiming that the DRC's right to sharing in the benefits from its resources has made all the Chinese mining companies "worried and even frightened"
I doubt anyone in world believes that the Chinese are worried or frightened about anything given their invasion of Tibet and claims the South China Sea and Taiwan are under their control. We are all blatantly aware of their lack of answerability, accountability and morals
No, not while we aren’t trading.
If my memory serves me correctly, at the Brissy RS Nigel said we could access the 50 mil….. @obe wan do you recall him saying that?
Winenut
Go AVZ!
I know the structure of the finance was an ATM (at the market) offering
Here's some detail from the Official Company Ann
Unfortunately from that I can't directly answer the question on whether things can happen whilst we are suspended but it provides some info for further follow up
TDITD
Top 20
Oh, troubles deep and tangled knot,
Doth strangle AVZ in DRC's plot,
The mining license sought and fought,
As corruption and criminals sought to besot.
In DRC, a land so fair,
With mines and wealth beyond compare,
AVZ didst venture, with hope and care,
To reap the bounty that layeth there.
But oh, the challenges they faced,
With corruption's grip so tightly laced,
And Chinese criminals, with no trace,
Of mercy or justice, to replace.
Yet AVZ didst persevere,
With diligence and courage near,
And fought with all their might and cheer,
To overcome the darkness and fear.
For in the end, the prize so great,
A wealth of spodumene, without debate,
Will surely come, if they doth wait,
And with their efforts, seal their fate.
So let us pray for AVZ's success,
And hope they overcome this mess,
For in the end, they shall impress,
And leave their foes in utter distress.
Doth strangle AVZ in DRC's plot,
The mining license sought and fought,
As corruption and criminals sought to besot.
In DRC, a land so fair,
With mines and wealth beyond compare,
AVZ didst venture, with hope and care,
To reap the bounty that layeth there.
But oh, the challenges they faced,
With corruption's grip so tightly laced,
And Chinese criminals, with no trace,
Of mercy or justice, to replace.
Yet AVZ didst persevere,
With diligence and courage near,
And fought with all their might and cheer,
To overcome the darkness and fear.
For in the end, the prize so great,
A wealth of spodumene, without debate,
Will surely come, if they doth wait,
And with their efforts, seal their fate.
So let us pray for AVZ's success,
And hope they overcome this mess,
For in the end, they shall impress,
And leave their foes in utter distress.
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