AVZ Discussion 2022
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Samus
Top 20
The appointed defenders of thieves, those who insulted us for having given our support to IGF and claimed to be relentless against their suppliers, finally recognize the professional and delicate work of ALINGETE. Here #India_Omari drops matata and lines up behind Alingete.
investinvest
Regular
Do you really believe that Cominiere waited 5 years (during which time they attended meetings with AVZ as part of Dathcom) before raising a question about exercising their pre-emptive right to purchase Dathomir's initial 60% share? It's rubbish as they gave Dathomir extra 5% of Dathcom to pay for a road as they didn't even have the money for that. So no, Cominiere does not have pre-emptive right to AVZ's 60% (whether expired or not).
Cominiere is not the one involved in the ICC cases with AVZ. It's Jin Cheng and Dathomir. Cominiere's two top execs have just been arrested recently anyway so no further action from them in the meantime. This letter from Cominiere was dated just before their arrest.
How I think it will play out:
IGF have referred the case to the Gombe court and submitted their report.
Court looks at the case and pursues it via prosecuting offenders and taking them to court.
AVZ vs Jin Cheng at the ICC - arbitration will be made public so Jin Cheng may be tempted to withdraw if it doesn't want its dirty laundry hanged out to dry.
AVZ vs Dathomir at the ICC - Simon Cong really has no leg to stand on since he accepted the initial payment/deposit for the 10% Sale Purchase Agreement in September 2020 (five months after the April 2020 DFS was published). If he has any issues with the agreed price, he would have disputed it back in Sept 2020, not in May 2021.
At any time while all of this is going on, someone pushes CAMI to calculate the surface rights and invoice Dathcom. AVZ pays it then gets the finalised ML in hand. Remember, CAMI is delaying surface rights calculation - if they admit to even have a need to calculate it means that they admit that Dathcom will get the ML, just a question of when (the only thing left that CAMI can control).
DYOR IMO
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investinvest
Regular
Yes you are right, I got my date of the arrest order wrong. It was indeed 26 Nov. Even more interesting then as the news link (below) reported that the Cominiere Director General ("Directeur Général") was arrested, so how come it's the Directeur Général signing off on this letter 1-2 weeks later?
DRC – IGF: COMINIERE requests the postponement of the decrees waiving PR13359 for several violations by AVZ
By Editorial KinshasaDecember 15, 2022 at 9:53 am
TO SHARE
COMINIERE SA, as a partner of DATHCOM and a company in the State portfolio, seized the Ministry of Mines on the 6th of the current month by its letter referenced CEM/DG/138/ckk/2022, accusing AVZ of having renounced part of PR13359 to transform it into PE13359. COMINIERE has asked the Ministry of Mines to postpone the decrees on the partial waiver of PR no. 13359.
While brandishing the Dathcom Joint Venture Agreement, COMINIERE revealed in this letter a large number of violations by AVZ, which resulted in the non-issuance of the MOU for Dathcom.
· The over-invoicing at the level of the construction services, the price of acquisition of the factories for the metallurgical treatment as presented in the feasibility study are more than ten times higher compared to the real price.
- The terms of the transaction for the sale of 60% of the shares of DATHOMIR and AVZ Minerals were never communicated to COMINIERE so that it could exercise its right of pre-emption. This is why COMINIERE is right to question this transaction before the Authority, even up to international arbitration.
- Through the feasibility study presented to the Ministry of Mines on behalf of Dathcom, AVZ wanted to:
· Spoliate the heritage of the State, by declaring that thanks to a law firm, AVZ was able to recover the hydroelectric power station of Mpiana Mwanga. However, COMINIERE owns 100% of the plant.
· This is why COMINIERE did not give its favorable opinion on the feasibility study. Pursuant to the contractual clauses, once the feasibility study has been carried out, it must obtain COMINIERE's favorable opinion.
AVZ filed a request for waiver of part of PR13359 without the approval or of COMINIERE SA through the General Meeting of the partners in Dathcom, thus causing the loss of a very important part of this mining heritage on which COMINIERE was very attached for this project.
- AVZ unilaterally declared the transfer to the Congolese State of 10% of the shares which came from COMINIERE SA
- To date Dathcom has not paid for the pas de porte, although this is its contractual obligation. AVZ maintains the confusion between the notion of pas de porte and the signing bonus, claiming that it paid for the pas de porte.
- Lack of transparency in fundraising operations. AVZ had to raise funds on the Australian Stock Exchange (ASX) for the joint project without communicating to the partners the amount obtained and the assignment to the project. DATHCOM's financial statements are never released to associates, and AVZ refuses to release them when other associates ask.
- Signature of subcontracting contracts without the approval of the partners, this concerns in particular contracts signed with drilling companies and those for the supply of fuel.
Without the favorable opinion of the partners such as COMINIERE, how did the feasibility study pass the approval of the Ministry of Mines?
Has the Ministry of Mines confirmed the transfer to the State of 10% of the shares of Dathcom? Has he confirmed that the Pas de Porte 1% deposit value has been paid to the public treasury?
Has the Ministry of Mines checked whether AVZ presented the Minutes of the General Meeting of Partners to prove that all Dathcom partners agreed to relinquish part of PR13359?
Is the part of PR13359 “renounced” unilaterally by AVZ transferred to AJN in which Nigel holds 9.65% of the shares? If this is the case, these actions will lead to the loss of assets, to the detriment of Congolese public companies and the Congolese State.
In addition, the courier of COMINIERE denounced the following violations and frauds of AVZ:
Reminder: according to Mining Agents, for the deposits studied, Law No. 007/2002 of July 11, 2002 on the Mining Code as amended and supplemented by Law No. paragraph 2 and 71 provide the following conditions for the transformation of PR into PE:
- Solitary management of the JV without the participation of the agents that COMINIERE has appointed within Dathcom.
- AVZ Power has signed a memorandum of understanding on the rehabilitation of the Mpiana Mwanga hydroelectric plant with the Ministry of Hydraulic Resources and Electricity while ignoring COMINIERE (State representative) who owns the said plant.
- AVZ has a habit of making publications on the Australian ASX exchange without contacting partners and obtaining their opinions.
- AVZ never kept its commitment to COMINIERE given in the JV contract to pay the advances on the dividends.
- Mr. Graeme Johnson, who is Managing Director of Dathcom and Technical Director of AVZ, was sentenced to three years in prison, Dathcom was fined 50 million dollars. This was never released by AVZ in its announcements in 2021, everything is hidden.
The feasibility study of the exploitation of the deposit to demonstrate the existence of an economically exploitable deposit;
The notarized declaration of the commitment to transfer to the State 10% of the shares or shares of the share capital which are free of all charges and cannot be diluted;
The financing plan with identification of the sources of financing targeted, to demonstrate the existence of the financial resources necessary to carry out its project according to a financing plan for the work of development, construction and exploitation of the mine as well as the rehabilitation plan for the site upon closure.
Access to the exploitation of a studied, documented or worked deposit belonging to the State, obtained by call for tenders, is conditioned by the payment of a doorstep to the latter, representing 1% of the in-place value of said deposit. The value in place of the deposit is defined as being the price obtained for said deposit within the framework of the call for tenders.
View attachment 24454
Bin59
Regular
Interesting timing of this article given the recent announcements from the US giving support for DRC/Zambia for the development of the electric vehicle battery value chain. Perhaps RIO would now be interested in a JV with Dathcom for CDL ?
www.afr.com
Rio Tinto talks up lithium M&A; investors hunt for targets
Its Rio Tinto’s turn to pull out the chequebook and summon a beauty parade, after BHP’s move on OZ Minerals.
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cruiser51
Top 20
From the Globe and Mail 15-12-2022
RCMP obtains search warrant for Ivanhoe Mines office in hunt for documents on Swiss bank account transfers
GEOFFREY YORK AFRICA BUREAU CHIEFJOHANNESBURG
PUBLISHED YESTERDAY
UPDATED 1 HOUR AGO
The RCMP has searched the Vancouver office of Ivanhoe Mines Ltd. to seek information on $2.7-million in bank transfers from Ivanhoe to a Swiss bank account in connection with contracts for its Congolese mining operations, The Globe and Mail has learned.
The RCMP obtained the search warrant after saying it had reasonable grounds to believe that Ivanhoe violated Canada’s Criminal Code and Corruption of Foreign Public Officials Act between 2014 and 2018, according to a brief disclosure by Ivanhoe in an annual information form.
Ivanhoe co-operated in the search of its Vancouver office in November, 2021 and no charges have been laid against the company or its directors or employees, Ivanhoe said in the disclosure earlier this year.
British Columbia court documents in the case – obtained by The Sentry, a U.S.-based investigative organization, and shared with The Globe – contain a six-page list of documents and computer equipment that the RCMP was authorized to seize from Ivanhoe’s office. Some of the documents authorized for seizure were related to three bank transfers from Ivanhoe to the Swiss bank account of a company called Stucky Technologies from 2015 to 2018.
Ivanhoe retained Stucky Ltd., a well-known Swiss engineering firm, to work with Congo’s state electricity company on hydropower supplies for Ivanhoe’s giant Kamoa-Kakula copper project in the Democratic Republic of the Congo (DRC).
Stucky Technologies, however, is a separate company registered in the British Virgin Islands, according to documents obtained by The Sentry and shared with The Globe. The relationship between the two companies is unclear.
In response to questions from The Globe, Ivanhoe said it cannot comment in detail on the RCMP search because there is an ongoing police investigation. It confirmed, however, that the search warrant authorized the seizure of documents relating to Stucky Ltd. and Stucky Technologies, as well as the DRC’s state-owned power company.
“Ivanhoe has worked co-operatively with the authorities in respect of the seized material, including in developing a process for the review of privileged materials, which is ongoing,” the company said Wednesday.
The mining project in Congo is a joint venture in which the biggest partners are Ivanhoe and the Chinese company Zijin Mining Group, each of which owns almost 40 per cent of the project. The Congolese government has a 20-per-cent stake. Ivanhoe says the mine will be the world’s third-biggest copper mining complex by 2024.
The RCMP search is an example of how Ivanhoe is increasingly under scrutiny for its operations in Congo, a vast impoverished country with huge mineral wealth. Congo’s murky governance and the dubious dealings between some Congolese officials and international companies have been exposed in several recent corruption cases involving commodities giant Glencore and others.
A new 48-page investigative report by The Sentry, published on Thursday, alleges that Ivanhoe received preferential treatment when Congolese authorities extended its exploration licences beyond the legal limit of 15 years, with some of these extensions gaining approval far more speedily than the average processing time for other applicants.
Around the time in 2018 when the first licences were due to expire, the report said, Ivanhoe created a company in which a minority ownership stake was allocated to the politically connected Congolese businessman Théophas Mahuku, a close friend of the family of Joseph Kabila, Congo’s president from 2001 to 2019.
In addition to other family connections, Mr. Mahuku was also a business partner of Mr. Kabila’s brother, Zoé Kabila, in several corporations in the mining sector and elsewhere, including at least one company that did business with Ivanhoe, The Sentry said.
It also reported that Mr. Mahuku gained a stake in another company established by Ivanhoe executives in 2020. Both of these Ivanhoe-created companies ended up in possession of exploration licences that should have expired, since the company was legally required to surrender them 15 years after they were obtained in 2003 and 2005, the report said.
Ivanhoe, in response to The Globe’s questions, denied receiving any preferential treatment and emphasized that it had followed all national and international laws. Processing times can vary substantially in different cases, it said. “In our case, we do expect that given our track record of discovery, development and job creation in the DRC, that we are considered a highly credible applicant, a factor that we expect any government would take into consideration in processing these types of applications.”
Asked about Mr. Mahuku’s ownership stake, Ivanhoe said the new DRC mining code in 2018 required that Congolese nationals must own 10 per cent of the share capital of Congolese companies holding an exploitation permit. “Mr. Mahuku holds the required 10-per-cent shareholding in two entities that hold exploration permits that are in the process of being converted into exploitation permits,” it said.
Ivanhoe also told The Globe that it is legally permitted to apply again for a new exploration permit when the old one expires, as long as it is the first to submit an application. It said it has sometimes followed this procedure to reapply for expiring permits.
In the past, Ivanhoe has publicly acknowledged that there could be questions about how it obtained some of its mineral rights in the DRC. In the “Risk Factors” section of its annual information forms, Ivanhoe warns investors that its title to mineral rights in the DRC could be subject to claims resulting from “irregularities” in the granting of its licences – or from “the use of administrative processes not specifically contemplated by the DRC Mining Code” when the licences were obtained.
The exploration licences were first granted in 2003 and 2005 to Ivanhoe’s predecessor company, African Minerals Corp., in the Western Foreland project area, near Ivanhoe’s main copper mine. Ivanhoe has often touted the Western Foreland area as having “tremendous” and “unparalleled” potential, although it is still undeveloped today.
After transferring ownership stakes to Mr. Mahuku in the companies that took control of the licences, Ivanhoe continued to tell investors publicly that it had 100-per-cent ownership of the licences, The Sentry report said. Ivanhoe, asked about this, told The Globe that it adheres to all securities laws in disclosures to shareholders on the nature of its permit holdings.
The Sentry report called for an investigation by the Congolese government, an independent internal investigation by Ivanhoe, and reviews by the Canadian and U.S. governments and financial institutions.
If the company had surrendered its exploration licences after 15 years as it was legally required to do, other investors could have developed the properties, creating jobs and benefits for Congo, it said. It called for official investigations of the issues relating to the licences.
“The people of the DRC deserve a government that puts poverty alleviation before the interests of insiders and power brokers,” said The Sentry’s senior investigator, Douglas Gillison. “But in this case, the evidence suggests that, with a lot of money at stake, the law didn’t seem to apply to a top operator with high-level connections.”
In an earlier published report, Ivanhoe again came under scrutiny for its alleged dealmaking with politically connected insiders in Congo. The report, published in September by the Organized Crime and Corruption Reporting Project (OCCRP), an independent global investigative organization, was based on hidden-camera recordings of comments last July by Vidiye Tshimanga, who was then a close advisor to Congolese President Félix Tshisekedi.
In the video recordings, Mr. Tshimanga claimed to hold 20 per cent of an unidentified Ivanhoe mining subsidiary. He told unidentified people, whom he believed to be investors, that he could help them to receive mining licences and cut through bureaucratic obstacles in Congo in exchange for a stake in a joint-venture project. He later denied that these comments were true, saying that he had been entrapped into them. He resigned from his post and faces possible criminal charges in Congo after being briefly detained.
Ivanhoe, responding to The Globe’s questions, said it had “entered a term sheet with a Congolese entity beneficially owned by Mr. Vidiye Tshimanga” for a joint venture on certain exploration licences in early 2021. The entity later “reneged on the commercial terms of this agreement” and Ivanhoe launched international arbitration proceedings, which are still continuing, Ivanhoe said.
RCMP = Royal Canadian Mounted Police.
Googling the name Théophas Mahuku, brings up all sorts of strange connections.
It even gets back to President Felix Tshisekedi's close adviser, Fortunat Biselele.
Interesting to know who more of the Felix Government is on the take.
And even our old friend Guy Loando gets a mention in this one year old report:
INTERNAL FIGHTING
DRC: A discreet palace war is taking place within Tshisekedi’s inner circle
By Jeune AfriquePosted on Thursday, 2 December 2021 17:38
Several people close to the DRC’s President Felix Tshisekedi, including advisors, ministers and even securocrats, have been trying to unpick a mining dispute for several weeks now.
Tshisekedi has entrusted unravelling the mystery to his trusted security adviser to François Beya: when Emirati investor showed up to invest in a mining project, it was found to be not for sale.
The affair starts with Corneille Nangaa, the former president of the Commission Electorale Nationale Indépendante (Ceni).
At the end of his term, Nangaa declared his assets to the Constitutional Court. In a letter dated 26 November that we were able to access, the Ceni’s honorary president listed – among the assets in his possession – seven vehicles, including three that belong to his wife, Yvette Lubala Nazinda.
READ MORE DRC: President Félix Tshisekedi under pressure from the UN
Nangaa also stated that he has five bank accounts and owns 11 plots of land, which are located between Kinshasa and the province of Haut-Uélé, where he is originally from and which his brother, Christophe Baseane Nangaa, has governed since 2019.
The Ceni’s former president does business in this same province, which is located in the northeastern part of the country. He owns a cocoa plantation and a palm grove, as well as a plot of land in Kolwezi, which is situated in the mining province of Lualaba. The timing of this declaration of assets is extremely noteworthy.
Scandal
For several weeks, Nangaa – as well as a handful of President Felix Tshisekedi’s advisers and ministers – have been embroiled in a scandal concerning a mining project that he invested in through an intermediary.READ MORE DRC: President Félix Tshisekedi takes charge
The case in question concerns the Zani Kodo mining site in Ituri province, which is owned by the Kilo-Moto mining company (Sokimo). The Congolese state owns 30% of this company, while private shareholders hold the remaining 70%.
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In 2017, Kodo Resources held the Zani Kodo mining permit. This was a private company in which Sokimo was a minority shareholder and the majority of shares were held by private individuals. Among them was Pianeta Mining, whose deputy general manager, Dede Muna, represents Nangaa and José Mpanda, the current minister of mining research.
Mining permit gone
According to our information, Pianeta has tried to sell its shares. The company Amarik positioned itself and then approached the Kabwa firm, which was headed by Tete Kabwa Kabwe, who was one of Tshisekedi’s advisors until he died in June.Through Kabwa, other figures were later involved in this transaction, including Guy Loando, the current minister of territorial development, and Fortunat Biselele, Tshisekedi’s private adviser. The aim was to facilitate the withdrawal of Pianeta’s shareholders and thus the provision of the operating licence.
However, when an Emirati group wanted to invest in the DRC, the famous permit proved unavailable, even though Tshisekedi had been informed that shareholders had in fact withdrawn.
Series of hearings
As a result, the Congolese president asked that some light be shed on this matter and has entrusted this dossier to François Beya, his special security adviser. This pillar of the president has been mandated to conduct hearings at the Conseil National de Sécurité (CNS) to try to understand why the Pianeta shareholders did not withdraw as planned.Interrogations began on 12 November. Ministers José Mpanda (scientific research) and Guy Loando (territorial development) as well as Nangaa have already been questioned.
READ MORE DRC: 'Felix Tshisekedi is part of the problem, he cannot be the solution' - Muzito
Nangaa and Biselele had scheduled a meeting for 17 November, but the latter did not show up. The privy councillor – who Tshisekedi had sent on an official mission to Kigali – finally returned to Kinshasa on the morning of 19 November.
According to our information, he has still not appeared before the CNS. The affair is causing a stir within the head of state’s entourage. Some advisers, such as Beya and Biselele, have complicated relations.
The more one digs, the more one asks will Felix be able to sort this mess, or is he also deeply involved.
More fake I suspect, cominiare should be silent after the shit they are in, perhaps they should be working out what to order for breakfast on the prison menu.
Xerof
Flaming 1967
From what I could gather, they were 'detained' for 48 hours for questioning. Whether that means they are back in the office snacking again? - quite probable
There has been NOTHING reported by anyone about their fate since, as far as I can see
With any luck, they are still rotting in malaka bum fuck
Julien is the only one in Senior Government that has been flying our flag from the start of all this mess. If only he had the top job, we would never have been in this huge shit show. Every time AVZ stated we have the support of “Senior Government” it was only him snd to a lesser extent minister of mines.
Why is CAMI taking so long to calculate the surface rights
Motive behind actions?
We all know that CDL may have been the issue but did DG of CAMI with the Princess do a deal with AJN for part of the northern section of CDL and cannot do surface rights until this is sorted out.
Major conflict of interest for Nigel should this be proven correct.
The independent governance issue of CAMI may be law but if fraudulent activities are proven then their positions should be untenable according to the law .
Hopefully IGF looks into this further.
Retrobyte
Hates a beer
"She bang you" and "Cat Shitter" - sounds like Der Geist is at it again
JAG
Top 20
Bin59
Regular
#URGENT #URGENT is fire for the Goddess Adèle kayinda Minister of State Minister of the Portfolio. I appealed to the hierarchical authorities for the Suspension of Mrs. Adèle kayinda to allow Justice to urgently speed up her file.
The Congolese People are demanding justice in the case http://COMINIERE. The Minister of State Minister of the Portfolio ADÈLE KAYINDA must respond to Justice according to the report
The Congolese People are demanding justice in the case http://COMINIERE. The Minister of State Minister of the Portfolio ADÈLE KAYINDA must respond to Justice according to the report
Carlos Danger
Top 20
Can't get much more untenable than being fired twice and having a replacement named 4 years ago
RDC/CAMI : Félix Tshisekedi appelé à intervenir en faveur de Chantal Bashizi pour prendre ses fonctions | Politico.cd
1ère source de l’actualité politique et économique en temps réel en RDC. Les dernières nouvelles, les enquêtes et les révélations exclusives.
www.politico.cd
DRC/CAMI : Felix Tshisekedi called to intervene in favour of Chantal Bashizi to take office
March 12th 2022 - Named Administrative Director of the Minier Cadastre (CAMI), Chantal Bashizi wants the delivery ceremony resumed so that she will officially take over her duties postponed since 2018. She should replace the position of Jean-Felix Mupande.
In her letter dated 16 June 2021, the Minister of Mines, Antoinette Nsamba, had given the reason for this postponement. According to her, the report was carried out on instructions by Prime Minister Sama Lukonde.
It should be recalled that Chantal Bashizi was appointed CEO on 27 December 2018 by a presidential order appointing the representatives to the Minier Cadastre (CAMI) and this was published in the official newspaper, before the interested person was notified. It is only the handover with her predecessor needed for Chantal Bashizi to officially take office at the CAMI as CEO.
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