Yes, he is the brains of Africa if only the top brass would listen to him. Let's see what transpires in coming weeks, if good then off we go mining if not then the DRC becomes thoroughly chinese and its back to square one.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
Winenut
Go AVZ!
It's all about location, location, locationI wonder if old mate will let me in for a sauna & some beers to watch the derby this arvo
View attachment 41859
NEWSECONOMY
Planning Minister Judith Suminwa wants to make DR Congo the best investment destination in Africa
August 10, 2023
Kiki Kienge
By Kiki Kienge
HE Madame Judith Suminwa , Minister of State and Minister of Planning of the Democratic Republic of Congo, in the vision of the Head of State, Félix Antoine Tshisekedi Tshilombo, wants to give back to the DR Congo one of these assets now lost, to become the main attraction of investors by the richness of its resources.
Before and even just after its independence, Congo Kinshasa was one of the most attractive countries for Western investors and even Eastern investors, Americans, French, Chinese, Japanese...
The largest country in Central Africa and second on the black continent, the DR Congo is also one of the largest exporters of minerals in the world such as cobalt, copper, uranium, coltan... and soon even the ingredient lithium. key to batteries, particularly for electric vehicles, the basis of the global energy transition.
The DR Congo could, of course with a certain political will, a good and honest organization of its state apparatus, one of the tourist center of Africa, exporter of electrical energy and agricultural products on the continent.
But here is the African giant with feet of clay, for decades floundering economically in the mud, following a not too Catholic management of the country by the powers that have succeeded at the head of the country.
Often rightly and wrongly, the DR Congo is described as a “geological scandal” country for its natural wealth, yet it remains one of the poorest states in the world where the population lives on less than US$1.5. per day.
Paradoxically, in the same country there are restaurants at US$300 a meal, a consumption of champagne that competes with rich countries, there is in particular a very small minority of people who are often involved in politics and according to the regime in place, s enrich without shame and even without wetting their shirts by working to become multimillionaires.
In reality, the Democratic Republic of Congo would be more than the image we have of it abroad, on the flow of investments and investors.
The DR Congo records a good quality of private investments, but which are almost all concentrated in the mining sector, more on cobalt, copper and gold. For China, for example, the Democratic Republic of the Congo has even become one of its development challenges. Mao's country is investing billions of US dollars there, even surpassing traditional trading partners, such as the United States, France or China. Belgium.
Unfortunately these investments only create wealth for these foreign investors, in particular only for a small class, which ranges from 2 to 5% at most of the Congolese population, often made up of politicians and courtiers all linked to the power in place, against a population that sinks more and more each year into a poverty that no longer has a name.
A challenge that the Minister of Planning, Judith Suminwa, wants to take up by launching the revitalization by her ministry of the business climate roadmap.
THE ANNOUNCEMENT OF THE MINISTRY OF PLAN
Minister of State and Minister of Planning Judith Suminwa Tuluka opened, Tuesday, August 8, 2023, in Venus village of Kinshasa, the work of the retreat of the Technical Group of Sectoral Experts on the Business Climate in the DRC.
Organized by the National Agency for the Promotion of Investments (ANAPI), these meetings focus on the evaluation and revision of the roadmap of government reforms on the business climate in the DRC.
Suminwa Judith praised the organization of this work which is part of the reforms initiated by the Government, under the leadership of the Head of State Félix Tshisekedi , for the improvement of the business climate and the promotion of entrepreneurship in the DRC.
The goal is to make the Democratic Republic of Congo an attractive land where there is legal and judicial security in the practice of business.
La ministre du Plan, Judith Suminwa veut faire de la RD Congo la meilleure destination d'investissement en Afrique - Kongo Presse
Le but étant de faire de la République Démocratique du Congo une terre attractive où règne la sécurité juridique et judiciaire dans la pratique des affaires.kongopress.com
Samus
Top 20
NEWSECONOMY
Louis WATUM; the biggest risk to investing in the mining sector in DR Congo is not political, but governance
August 12, 2023Kiki Kienge
By Kiki Kienge
Louis Watum , President of the Chamber of Mines of the Democratic Republic of Congo at the Fédération des entreprises du Congo (FEC), Chairman of the Board of Directors of Kamoa Copper SA, Chairman of the Board of Directors and Managing Director of KICO (Kipushi Corporation SA) joint venture between Gécamines and Ivanhoe.
Louis Watum, between 2010 and 2014, he led the development and commissioning of the Kibali project of Randgold, for the launch of the Moto project of Moto Gold Mines of which he was the architect from 2006 to 2009, in particular between 2001 and 2005 , he was the operations manager of the Yatela gold mine in Mali between 2001 and 2005.
Interviewed as President of the Chamber of Mines of the FEC, Louis Watum considers that the biggest problem for investors in DR Congo is due to the involvement of politics in the management of the country's mines:
"The biggest risk when you invest in the DRC is not actually political, the biggest risk is not being able to set up a competent local team..."
In addition to advising investors to have a competent local team on site in DR Congo, which understands the complexity of the business environment and the obligation of results, Watum recommends that foreigners understand the true cost of investing in the country :
"We have to admit, somewhere, it's expensive to do business in the DRC, it's expensive because of several quite obvious reasons that we are not ashamed of, we have an infrastructure problem , of energy deficit, each time you burn fuel oil, it is part of your profits that you burn (…), do your calculations and according to your calculations when you estimate that the margin which remains sufficient for you, you come and invest…”
So according to Louis Watum, the problem would be more about the approach of investors than the economic and political atmosphere of the DR Congo for him the problem of investment difficulties is less political, “it is the problem of governance. »
The President of the Chamber of Mines of the FEC, tries to make a clear difference between politics and bad governance of the mining sector, for him if an investor is serious, the doors for his investments open for him in DR Congo.
Wouldn't the problem be in the definition or the consideration of the word serious in the business world in DR Congo?
Given the real realities of mines in DR Congo where investors, serious or not, are blocked or sanctified by political actors and power, see investors who have the blessing of Kinshasa, be granted advantages that even violate the laws of the country , can we rule out the politics of mismanagement in the DR Congo mining sector.
What to say about only the last two emblematic cases in the Congolese gold and lithium sector;
- The Arabs of PRIMERA GOLD and METAL, blessed by the power of Kinshasa are tax exempt for an exclusive rate of 0.25% on gold and 3.5% on 3T (Tin, Tungsten, Tantalum; or coltan), have a monopoly on these minerals from the artisanal sector for 25 years renewable for export.
- On the other side, the Australians of AVZ MINERALS , who after having carried out feasibility studies at their own expense and promoting Congolese lithium on the international market, are blocked from the lithium exploitation license by the purely for reasons purely political Kinshasa and the personal interests of a few individuals.
Louis WATUM ; le plus grand risque pour investir dans le secteur minier en RD Congo n'est pas politique, mais de gouvernance - Kongo Presse
Par Kiki Kienge Louis Watum, Président de la Chambre des Mines de la République Démocratique du Congo à la Fédération des entreprises du Congo (FEC), Président du Conseil d’Administration de…
kongopress.com
Samus
Top 20
NEWS
Byuser1
Posted on August 11, 2023
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
COMMENTS
It is a legal victory that the Congolese mining company (COMINIERE SA) has just won at the International Court of Arbitration of the International Chamber of Commerce (ICC) against the multinational MMCS1. Shaken by the convincing arguments of COMINIERE SA which clearly and black and white established before the judges the unfoundation of "these main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this arbitration procedure", MMCS1 was forced to withdraw its main claims before the ICC .
Indeed, following the official withdrawal of the main claims of MMCS1 in the file opposing it to the Congolese mining company, the General Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC) transmitted, by email of July 21, 2023, to all the litigants as well as to the Arbitral Tribunal, the letter confirming the end of the arbitration procedure registered under ICC nº 23225/GR/PAR between MMCS1 and COMINIERE SA (hereinafter referred to as the "procedure ”), pursuant to Article 37(6) of the ICC Rules.
For its part, the Arbitral Tribunal constituted to hear this procedure, by its email of July 28, 2023, formally acknowledged receipt of the email of July 21, 2023 and noted that the Procedure is deemed to have ended. By her email of July 31, 2023 addressed to the Arbitral Tribunal, the claimant in arbitration MMCS1
through her counsel, confirmed the end of the procedure following the withdrawal of her main claims pursuant to Article 37(6) of the CCl Rules and, moreover, thanked the Arbitral Tribunal for all the diligence carried out since the start of this arbitration, for the professionalism they have demonstrated in this case, but also for the flexibility and patience they have shown towards the parties throughout the proceedings.
The hearings of the pleadings having been closed and the hearing notes issued, COMINIERE SA's legal counsel also sent the note of the balance of his fees to the senior management of this para-public, as announced in his referenced letter of January 02, 2023 The withdrawal of the principal claims and consequently the end of the procedure, devote the end of its services relative to this Procedure.
At the time of going to press, MMCS1 refused and still refuses, in a deliberate manner, to pay the balance of the amount of the separate position, despite repeated reminders from the General Secretariat of the International Court of Arbitration of the ICC, to enable the Arbitral Tribunal to rule on the merits of its claims, confirms the terms of the latest report by Cabinet Emery Mukendi Wafwana et Associés, SCP, sent to COMINIERE SA following the hearings in January 2023. This last report stated the relevance and merits of its legal arguments developed on behalf of COMINIERE SA, which arguments had shaken the position of MMCS1,while establishing the non-foundation of its main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this procedure.
It should be noted that by correspondence dated June 29, 2023, in accordance with Article 37(6), the Secretary General granted the Claimant a final deadline until July 17, 2023 to pay the balance of the amount of the
provision separately and informed the claimant that in the absence of payment within the time allowed, the claims concerned would be considered withdrawn.
This period expired on July 17, 2023 without our having received this payment and without any party having raised an objection in accordance with Article 37(6). Consequently, in accordance with Article 37(6), the main requests are considered withdrawn as of July 18, 2023, without this precluding their subsequent reintroduction in another procedure. The Court was informed of the withdrawal of the claims and, at the same time, it was asked to fix the costs of the arbitration. So what is the consequence to be drawn from this withdrawal?
To date, according to a mining and quarrying agent who requested anonymity, the direct consequence of the withdrawal of MMCS1's requests or the end of the procedure is that COMINIERE SA does not incur any risk whatsoever arising from the procedure, this which can be analyzed as a success and/or result obtained for the benefit of the government corporation.
Dieudonne Buanali
End of the arbitration proceedings at the ICC: Shaken by the position of COMINIERE SA, the company MMCS1 withdraws its main claims
Byuser1
Posted on August 11, 2023
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
COMMENTS
Indeed, following the official withdrawal of the main claims of MMCS1 in the file opposing it to the Congolese mining company, the General Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC) transmitted, by email of July 21, 2023, to all the litigants as well as to the Arbitral Tribunal, the letter confirming the end of the arbitration procedure registered under ICC nº 23225/GR/PAR between MMCS1 and COMINIERE SA (hereinafter referred to as the "procedure ”), pursuant to Article 37(6) of the ICC Rules.
For its part, the Arbitral Tribunal constituted to hear this procedure, by its email of July 28, 2023, formally acknowledged receipt of the email of July 21, 2023 and noted that the Procedure is deemed to have ended. By her email of July 31, 2023 addressed to the Arbitral Tribunal, the claimant in arbitration MMCS1
through her counsel, confirmed the end of the procedure following the withdrawal of her main claims pursuant to Article 37(6) of the CCl Rules and, moreover, thanked the Arbitral Tribunal for all the diligence carried out since the start of this arbitration, for the professionalism they have demonstrated in this case, but also for the flexibility and patience they have shown towards the parties throughout the proceedings.
The hearings of the pleadings having been closed and the hearing notes issued, COMINIERE SA's legal counsel also sent the note of the balance of his fees to the senior management of this para-public, as announced in his referenced letter of January 02, 2023 The withdrawal of the principal claims and consequently the end of the procedure, devote the end of its services relative to this Procedure.
At the time of going to press, MMCS1 refused and still refuses, in a deliberate manner, to pay the balance of the amount of the separate position, despite repeated reminders from the General Secretariat of the International Court of Arbitration of the ICC, to enable the Arbitral Tribunal to rule on the merits of its claims, confirms the terms of the latest report by Cabinet Emery Mukendi Wafwana et Associés, SCP, sent to COMINIERE SA following the hearings in January 2023. This last report stated the relevance and merits of its legal arguments developed on behalf of COMINIERE SA, which arguments had shaken the position of MMCS1,while establishing the non-foundation of its main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this procedure.
It should be noted that by correspondence dated June 29, 2023, in accordance with Article 37(6), the Secretary General granted the Claimant a final deadline until July 17, 2023 to pay the balance of the amount of the
provision separately and informed the claimant that in the absence of payment within the time allowed, the claims concerned would be considered withdrawn.
This period expired on July 17, 2023 without our having received this payment and without any party having raised an objection in accordance with Article 37(6). Consequently, in accordance with Article 37(6), the main requests are considered withdrawn as of July 18, 2023, without this precluding their subsequent reintroduction in another procedure. The Court was informed of the withdrawal of the claims and, at the same time, it was asked to fix the costs of the arbitration. So what is the consequence to be drawn from this withdrawal?
To date, according to a mining and quarrying agent who requested anonymity, the direct consequence of the withdrawal of MMCS1's requests or the end of the procedure is that COMINIERE SA does not incur any risk whatsoever arising from the procedure, this which can be analyzed as a success and/or result obtained for the benefit of the government corporation.
Dieudonne Buanali
Well fuck me it's fucken ezy to do business in drc when u have the ivanhoe mega bribes. Jesus christ we already know this you clown.
NEWSECONOMY
Louis WATUM; the biggest risk to investing in the mining sector in DR Congo is not political, but governance
August 12, 2023
Kiki Kienge
By Kiki Kienge
Louis Watum , President of the Chamber of Mines of the Democratic Republic of Congo at the Fédération des entreprises du Congo (FEC), Chairman of the Board of Directors of Kamoa Copper SA, Chairman of the Board of Directors and Managing Director of KICO (Kipushi Corporation SA) joint venture between Gécamines and Ivanhoe.
Louis Watum, between 2010 and 2014, he led the development and commissioning of the Kibali project of Randgold, for the launch of the Moto project of Moto Gold Mines of which he was the architect from 2006 to 2009, in particular between 2001 and 2005 , he was the operations manager of the Yatela gold mine in Mali between 2001 and 2005.
Interviewed as President of the Chamber of Mines of the FEC, Louis Watum considers that the biggest problem for investors in DR Congo is due to the involvement of politics in the management of the country's mines:
"The biggest risk when you invest in the DRC is not actually political, the biggest risk is not being able to set up a competent local team..."
In addition to advising investors to have a competent local team on site in DR Congo, which understands the complexity of the business environment and the obligation of results, Watum recommends that foreigners understand the true cost of investing in the country :
"We have to admit, somewhere, it's expensive to do business in the DRC, it's expensive because of several quite obvious reasons that we are not ashamed of, we have an infrastructure problem , of energy deficit, each time you burn fuel oil, it is part of your profits that you burn (…), do your calculations and according to your calculations when you estimate that the margin which remains sufficient for you, you come and invest…”
So according to Louis Watum, the problem would be more about the approach of investors than the economic and political atmosphere of the DR Congo for him the problem of investment difficulties is less political, “it is the problem of governance. »
The President of the Chamber of Mines of the FEC, tries to make a clear difference between politics and bad governance of the mining sector, for him if an investor is serious, the doors for his investments open for him in DR Congo.
Wouldn't the problem be in the definition or the consideration of the word serious in the business world in DR Congo?
Given the real realities of mines in DR Congo where investors, serious or not, are blocked or sanctified by political actors and power, see investors who have the blessing of Kinshasa, be granted advantages that even violate the laws of the country , can we rule out the politics of mismanagement in the DR Congo mining sector.
What to say about only the last two emblematic cases in the Congolese gold and lithium sector;
- The Arabs of PRIMERA GOLD and METAL, blessed by the power of Kinshasa are tax exempt for an exclusive rate of 0.25% on gold and 3.5% on 3T (Tin, Tungsten, Tantalum; or coltan), have a monopoly on these minerals from the artisanal sector for 25 years renewable for export.
- On the other side, the Australians of AVZ MINERALS , who after having carried out feasibility studies at their own expense and promoting Congolese lithium on the international market, are blocked from the lithium exploitation license by the purely for reasons purely political Kinshasa and the personal interests of a few individuals.
Louis WATUM ; le plus grand risque pour investir dans le secteur minier en RD Congo n'est pas politique, mais de gouvernance - Kongo Presse
Par Kiki Kienge Louis Watum, Président de la Chambre des Mines de la République Démocratique du Congo à la Fédération des entreprises du Congo (FEC), Président du Conseil d’Administration de…
Love the Selfie
Cominiere now have 10% to cede to the DRC government. So they can now issue the license. Great newsNEWS
End of the arbitration proceedings at the ICC: Shaken by the position of COMINIERE SA, the company MMCS1 withdraws its main claims
Byuser1
Posted on August 11, 2023
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
COMMENTS
It is a legal victory that the Congolese mining company (COMINIERE SA) has just won at the International Court of Arbitration of the International Chamber of Commerce (ICC) against the multinational MMCS1. Shaken by the convincing arguments of COMINIERE SA which clearly and black and white established before the judges the unfoundation of "these main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this arbitration procedure", MMCS1 was forced to withdraw its main claims before the ICC .
Indeed, following the official withdrawal of the main claims of MMCS1 in the file opposing it to the Congolese mining company, the General Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC) transmitted, by email of July 21, 2023, to all the litigants as well as to the Arbitral Tribunal, the letter confirming the end of the arbitration procedure registered under ICC nº 23225/GR/PAR between MMCS1 and COMINIERE SA (hereinafter referred to as the "procedure ”), pursuant to Article 37(6) of the ICC Rules.
For its part, the Arbitral Tribunal constituted to hear this procedure, by its email of July 28, 2023, formally acknowledged receipt of the email of July 21, 2023 and noted that the Procedure is deemed to have ended. By her email of July 31, 2023 addressed to the Arbitral Tribunal, the claimant in arbitration MMCS1
through her counsel, confirmed the end of the procedure following the withdrawal of her main claims pursuant to Article 37(6) of the CCl Rules and, moreover, thanked the Arbitral Tribunal for all the diligence carried out since the start of this arbitration, for the professionalism they have demonstrated in this case, but also for the flexibility and patience they have shown towards the parties throughout the proceedings.
The hearings of the pleadings having been closed and the hearing notes issued, COMINIERE SA's legal counsel also sent the note of the balance of his fees to the senior management of this para-public, as announced in his referenced letter of January 02, 2023 The withdrawal of the principal claims and consequently the end of the procedure, devote the end of its services relative to this Procedure.
At the time of going to press, MMCS1 refused and still refuses, in a deliberate manner, to pay the balance of the amount of the separate position, despite repeated reminders from the General Secretariat of the International Court of Arbitration of the ICC, to enable the Arbitral Tribunal to rule on the merits of its claims, confirms the terms of the latest report by Cabinet Emery Mukendi Wafwana et Associés, SCP, sent to COMINIERE SA following the hearings in January 2023. This last report stated the relevance and merits of its legal arguments developed on behalf of COMINIERE SA, which arguments had shaken the position of MMCS1,while establishing the non-foundation of its main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this procedure.
It should be noted that by correspondence dated June 29, 2023, in accordance with Article 37(6), the Secretary General granted the Claimant a final deadline until July 17, 2023 to pay the balance of the amount of the
provision separately and informed the claimant that in the absence of payment within the time allowed, the claims concerned would be considered withdrawn.
This period expired on July 17, 2023 without our having received this payment and without any party having raised an objection in accordance with Article 37(6). Consequently, in accordance with Article 37(6), the main requests are considered withdrawn as of July 18, 2023, without this precluding their subsequent reintroduction in another procedure. The Court was informed of the withdrawal of the claims and, at the same time, it was asked to fix the costs of the arbitration. So what is the consequence to be drawn from this withdrawal?
To date, according to a mining and quarrying agent who requested anonymity, the direct consequence of the withdrawal of MMCS1's requests or the end of the procedure is that COMINIERE SA does not incur any risk whatsoever arising from the procedure, this which can be analyzed as a success and/or result obtained for the benefit of the government corporation.
Dieudonne Buanali
And that prick is just overwhelmed with happiness that they won.NEWS
End of the arbitration proceedings at the ICC: Shaken by the position of COMINIERE SA, the company MMCS1 withdraws its main claims
Byuser1
Posted on August 11, 2023
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
COMMENTS
It is a legal victory that the Congolese mining company (COMINIERE SA) has just won at the International Court of Arbitration of the International Chamber of Commerce (ICC) against the multinational MMCS1. Shaken by the convincing arguments of COMINIERE SA which clearly and black and white established before the judges the unfoundation of "these main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this arbitration procedure", MMCS1 was forced to withdraw its main claims before the ICC .
Indeed, following the official withdrawal of the main claims of MMCS1 in the file opposing it to the Congolese mining company, the General Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC) transmitted, by email of July 21, 2023, to all the litigants as well as to the Arbitral Tribunal, the letter confirming the end of the arbitration procedure registered under ICC nº 23225/GR/PAR between MMCS1 and COMINIERE SA (hereinafter referred to as the "procedure ”), pursuant to Article 37(6) of the ICC Rules.
For its part, the Arbitral Tribunal constituted to hear this procedure, by its email of July 28, 2023, formally acknowledged receipt of the email of July 21, 2023 and noted that the Procedure is deemed to have ended. By her email of July 31, 2023 addressed to the Arbitral Tribunal, the claimant in arbitration MMCS1
through her counsel, confirmed the end of the procedure following the withdrawal of her main claims pursuant to Article 37(6) of the CCl Rules and, moreover, thanked the Arbitral Tribunal for all the diligence carried out since the start of this arbitration, for the professionalism they have demonstrated in this case, but also for the flexibility and patience they have shown towards the parties throughout the proceedings.
The hearings of the pleadings having been closed and the hearing notes issued, COMINIERE SA's legal counsel also sent the note of the balance of his fees to the senior management of this para-public, as announced in his referenced letter of January 02, 2023 The withdrawal of the principal claims and consequently the end of the procedure, devote the end of its services relative to this Procedure.
At the time of going to press, MMCS1 refused and still refuses, in a deliberate manner, to pay the balance of the amount of the separate position, despite repeated reminders from the General Secretariat of the International Court of Arbitration of the ICC, to enable the Arbitral Tribunal to rule on the merits of its claims, confirms the terms of the latest report by Cabinet Emery Mukendi Wafwana et Associés, SCP, sent to COMINIERE SA following the hearings in January 2023. This last report stated the relevance and merits of its legal arguments developed on behalf of COMINIERE SA, which arguments had shaken the position of MMCS1,while establishing the non-foundation of its main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this procedure.
It should be noted that by correspondence dated June 29, 2023, in accordance with Article 37(6), the Secretary General granted the Claimant a final deadline until July 17, 2023 to pay the balance of the amount of the
provision separately and informed the claimant that in the absence of payment within the time allowed, the claims concerned would be considered withdrawn.
This period expired on July 17, 2023 without our having received this payment and without any party having raised an objection in accordance with Article 37(6). Consequently, in accordance with Article 37(6), the main requests are considered withdrawn as of July 18, 2023, without this precluding their subsequent reintroduction in another procedure. The Court was informed of the withdrawal of the claims and, at the same time, it was asked to fix the costs of the arbitration. So what is the consequence to be drawn from this withdrawal?
To date, according to a mining and quarrying agent who requested anonymity, the direct consequence of the withdrawal of MMCS1's requests or the end of the procedure is that COMINIERE SA does not incur any risk whatsoever arising from the procedure, this which can be analyzed as a success and/or result obtained for the benefit of the government corporation.
Dieudonne Buanali
MoneyBags1348
Top 20
NEWS
End of the arbitration proceedings at the ICC: Shaken by the position of COMINIERE SA, the company MMCS1 withdraws its main claims
Byuser1
Posted on August 11, 2023
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
https://geopolismagazine.net/fin-de...ciete-mmcs1-retire-ses-demandes-principales/#
COMMENTS
It is a legal victory that the Congolese mining company (COMINIERE SA) has just won at the International Court of Arbitration of the International Chamber of Commerce (ICC) against the multinational MMCS1. Shaken by the convincing arguments of COMINIERE SA which clearly and black and white established before the judges the unfoundation of "these main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this arbitration procedure", MMCS1 was forced to withdraw its main claims before the ICC .
Indeed, following the official withdrawal of the main claims of MMCS1 in the file opposing it to the Congolese mining company, the General Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC) transmitted, by email of July 21, 2023, to all the litigants as well as to the Arbitral Tribunal, the letter confirming the end of the arbitration procedure registered under ICC nº 23225/GR/PAR between MMCS1 and COMINIERE SA (hereinafter referred to as the "procedure ”), pursuant to Article 37(6) of the ICC Rules.
For its part, the Arbitral Tribunal constituted to hear this procedure, by its email of July 28, 2023, formally acknowledged receipt of the email of July 21, 2023 and noted that the Procedure is deemed to have ended. By her email of July 31, 2023 addressed to the Arbitral Tribunal, the claimant in arbitration MMCS1
through her counsel, confirmed the end of the procedure following the withdrawal of her main claims pursuant to Article 37(6) of the CCl Rules and, moreover, thanked the Arbitral Tribunal for all the diligence carried out since the start of this arbitration, for the professionalism they have demonstrated in this case, but also for the flexibility and patience they have shown towards the parties throughout the proceedings.
The hearings of the pleadings having been closed and the hearing notes issued, COMINIERE SA's legal counsel also sent the note of the balance of his fees to the senior management of this para-public, as announced in his referenced letter of January 02, 2023 The withdrawal of the principal claims and consequently the end of the procedure, devote the end of its services relative to this Procedure.
At the time of going to press, MMCS1 refused and still refuses, in a deliberate manner, to pay the balance of the amount of the separate position, despite repeated reminders from the General Secretariat of the International Court of Arbitration of the ICC, to enable the Arbitral Tribunal to rule on the merits of its claims, confirms the terms of the latest report by Cabinet Emery Mukendi Wafwana et Associés, SCP, sent to COMINIERE SA following the hearings in January 2023. This last report stated the relevance and merits of its legal arguments developed on behalf of COMINIERE SA, which arguments had shaken the position of MMCS1,while establishing the non-foundation of its main claims as well as the weaknesses and inconsistencies of the interventions of the experts and witnesses cited by the plaintiff in this procedure.
It should be noted that by correspondence dated June 29, 2023, in accordance with Article 37(6), the Secretary General granted the Claimant a final deadline until July 17, 2023 to pay the balance of the amount of the
provision separately and informed the claimant that in the absence of payment within the time allowed, the claims concerned would be considered withdrawn.
This period expired on July 17, 2023 without our having received this payment and without any party having raised an objection in accordance with Article 37(6). Consequently, in accordance with Article 37(6), the main requests are considered withdrawn as of July 18, 2023, without this precluding their subsequent reintroduction in another procedure. The Court was informed of the withdrawal of the claims and, at the same time, it was asked to fix the costs of the arbitration. So what is the consequence to be drawn from this withdrawal?
To date, according to a mining and quarrying agent who requested anonymity, the direct consequence of the withdrawal of MMCS1's requests or the end of the procedure is that COMINIERE SA does not incur any risk whatsoever arising from the procedure, this which can be analyzed as a success and/or result obtained for the benefit of the government corporation.
Dieudonne Buanali
Though this is good news @cruiser51…. It was expected and what I hope people realise is that this came from a magazine / website that promotes CKK and posts lies and other attempted undermining and bullshit comments against AVZ, so it’s basically trying to put the case that CKK is doing a good job.
Mupande is gone, now it’s time for this lying fuckwit to go too
The Fox
Regular
and.....let's hope they drag him off by his gold lovely chain very soon
MoneyBags1348
Top 20
Normally I only need to do this once, but for this lying fuckwit I’m making an exception
Winenut
Go AVZ!
I know that voodoo stuff works MB
It has had recent success and earned cred and scares the shit out of me!
It was a requirement for Cominiere to cede 10% to the DRC Government.
The green dragon was of the opinion that because Cominiere has given this 5% to MMCS1 to shut them up, AVZ had to make up the remainder.
CKK might be all smiles, but Cominiere did not want to defend this case, it was done under pressure from the NGO's.
So this prick has no reason to smile other than he is back to 10%., which he can now cede to the government followed by fukkin off ASAP.
Xerof
Biding my Time 1971
Can he not cede and fuck off simultaneously 🫤
As far as I am concerned he can fuck off yesterday.
I do hope Jules/FT will hold him responsible for the mess he created, fukkin wanker.
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