Probably interesting bit in last paragraph:
IV. EXAMINATION AND ADOPTION OF A FILE
IV.1. Development, enhancement and promotion of assets
mining
The Minister of State, Minister of the Portfolio presented to the Council the file
"Congo Resources" relating to the development, development and promotion
mining assets in the Democratic Republic of Congo.
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This is a financial vehicle set up to solve the problem of
the valuation of the dormant assets of the mining companies in the Portfolio which
are not exploited and valued.
Allusion made in particular to certain assets which have fallen into the domain
of the State for non-payment of surface rights, on the one hand; and
their inability to meet the demands of infrastructure funding
or to offer guarantees to enable the conclusion of win-win partnerships, on the other hand.
She explained that this valuation of mining assets will be done through the markets
scholarship holders around the world, which will raise the funds that will be allocated to the
certification of our reserves and will serve as collateral guarantees for large
investments.
Congo Resources will therefore be a national exploration and
development centered on the acquisition, development and constitution of
convertible mining assets.
The Government has approved the option of creating the Congo company
Resources. However, the memorandum with the AJN group was not
approved by the Board. The file was sent to the Mixed Commission
governmental.
The above story is related to the following, but gives a bit of an indication that dealing with DRC government is not that simple:
AJN Resources Inc. is set to acquire a number of exploration permits in the highly prospective Kilo Moto Gold Belt in North-East DRC, which hosts Barrick’s Kibali Gold Mine. This is after the firm entered into a memorandum of understanding (MoU) with the Democratic Republic of the Congo.
The deal follows a previous intention which involved AJN penning a MoU with State entity, Société Minière de Kilo-Moto SA (“SOKIMO”), which is a DRC para-statal entity. AJN could secure the direct participation rights in several established gold projects held by SOKIMO. At that time AJN also announced its intention to raise a minimum of $CDN20,000,000 via the issuance of securities in its capital. As consideration for the direct participation rights AJN was to issue common shares in its capital equal to sixty percent (60%) of the issued and outstanding common shares of AJN post-financing.
Subsequent to signing the memorandum of understanding with SOKIMO, and after numerous consultations with representatives of the State, the State advised that AJN should deal directly with the State as after two years from signing the original memorandum of understanding with AJN, SOKIMO had still to receive the required approvals. The DRC subsequently decided to conclude the proposed transaction with AJN through its wholly-owned subsidiary, Congo Resources SAU.
Pursuant to the MoU with the DRC, the State will transfer a number of prospective exploration permits, mostly within the Kilo-Moto Gold Belt, (which hosts Barrick’s Kibali Gold Mine and other prospective areas within the DRC), to Congo Resources SAU.
(See article in
https://www.fmdrc-zambia.com/ajn-resources-inc-to-acquire-exploration-permits-in-drc/ )
