@MoneyBags1348
Mines.cd - good or bad?
Well, they stuck it right up Cong's clacker with this paraphrasing of the IGF report a few days ago, so jury out afaic. Having said that, it's full of inaccuracies, as seems to be normal for DRC journalists
https://mines.cd/cominieregate-dath...legalement-des-parts-a-avz-international-igf/
The mining company DATHCOM MINING SA sold nearly 60% of the shares in the joint venture to external partners "without any guarantee of substantial financial contributions" to the detriment of COMINIERE SA. This was revealed by the General Inspectorate of Finance (IGF) in its investigation report on the management of COMINIERE SA, a document consulted by MINES.CD.
According to the IGF, Dathcom Mining SA owned nearly 75% of the shares in its partnership with the Congolese mining company COMINIERE SA, shares that Dathcom had obtained in a very ambiguous context. But DATHCOM has resolved to sell nearly 60% of its shares without complying with the regulations in force on the joint venture.
"Despite 75% of the shares, partner DATHOMIR was not able, despite everything, to mobilize expected financing, but preferred, two months after benefiting from the sale of 5% of the shares of COMINIERE SA, to sell 60% of the shares to AVZ International in violation of the provisions of the joint venture contract in its article 16 point (f) relating to its commitments and
He added: "with this operation, DATHOMIR made huge profits without having paid a single round in the partnership concluded with COMINIERE SA. ”
This financial patrol institution has returned to the conditions for acquiring shares in this joint venture by DATHOMIR, which is the parent company of DATHCOM MINING SA.
"His fallacious promises of financing had earned the latter the allocation of 70% of the shares while COMINIERE SA, which definitively and irrevocably sold mining securities, was content with 30% of the shares. No proof of guarantee of funding provided by its partner has been provided to the control team. As if the 70% were not enough to mobilize financing, DATHOMIR Mining Ressources was allocated an additional 5% of the social shares of COMINIERE SA on the grounds that a sister company of DATHOMIR would have made the MANONO_PWETO route without being paid by the Congolese State, "she recalls.
Emmanuel Lufiauluisu
