Speaking of being "Royally Fucked Over"
I see where the Watch Dog is still Barking Mad at the Yellow Peril ( Sicomines ) screwing the DRC
Sicomines: Jules Alingete wants a contract revised to 20 billion dollars
The Chinese contract must increase from 3 to 20 billion dollars, according to the IGF for a better re-balancing between the DRC and the Chinese Enterprise Group.
Jules Alingete is keen on a binding commitment of $17 billion in additional investment from GEC.
Storm warning for Sicomines. Faced with the intransigence of Jules Alingete, the Chinese managers of Sicomines are threatening to send a large section of Congolese staff back on technical leave.
Friendship yes… But not silliness, braces the IGF
In the tempestuous negotiations on the revisitation of the Chinese contract, mines versus infrastructure, President Félix Tshisekedi recommended a dose of consideration of the eternal Sino-Congolese friendship.
Certainly.
However, the intractable Jules Alingete Key, head of the General Inspectorate of Finance (IGF), does not expect to give in to the Chineseness of the firms of the Middle Kingdom, which would do a little too much...
The Chinese are plotting stratagems of resisting any amendment.
Started in June 2023, the negotiations on the revisitation of the famous barter mark more steps than points.
Yellow Peril
On July 10, the temperate Jules Alingete moved up a notch on the scale of ire, disconcerted by the haughty attitude of the delegates from Chinese companies, Crec, Sinohydro and Exim Bank.
That day, leaving the Palais de la Nation – the equivalent of the White House in the DRC – the head of the IGF department took offense at what he described as yellow neo-colonialism to which , according to him, the Congolese will not be able to submit.
At the end of February, the report from the General Inspectorate of Finance denounced the unbalanced nature of this Chinese contract concluded during the time of Joseph Kabila, 15 years ago.
Not only did Sicomines, the joint venture created by the Chinese Enterprise Group (GEC) and Gécamines, hardly bring in “a few billion dollars” as the first minister, Matata Ponyo, boasted in May 2012 in front of the National Assembly, but above all a number of infrastructures, for which the Chinese side was entitled to draw cobalt and copper from the Katangese copper belt, and no doubt other undeclared related minerals, have not experienced the beginning of start of investments in infrastructure.
Non-compliance with commitments
These include 3,000 km of railways, 31 hospitals with 150 beds and 145 health centers in each of 145 territories of the DRC.
The initial value of all the projects agreed in this barter was 6.5 before being reduced by more than half, to 3 billion dollars, following pressure from the IMF, and behind the scenes, from Western countries.
However, Jules Alingete deplores that the DRC has brought into the mixed economy mining society, in addition to deposits valued at more than 50 billion dollars, a tax exemption regime which has hardly had the expected effects.
While Chinese companies have already made more than $10 billion in profits as part of this partnership!
The DRC has until now only been content with small fry, infrastructure valued at 822 million dollars, the rest overcharged, according to the IGF.
For Jules Alingete's service, considering the contributions of each party in Sicomines, it is crystal clear that the DRC has been cheated, because its shares are established at 32% compared to 68 for the GEC.
The DRC wants to regain its rights
Thus Jules Alingete and his IGF mobilize the strategic committee engaged in negotiations with the Chinese not to waver as the DRC's demands are all well-founded.
The strategic committee includes in particular the ministers of Infrastructure, Budget, Finance, Mines, Gécamines, the Steering Agency for coordination and monitoring of the collaboration agreement signed between the DRC and private partners (APCSC), the secretariat executive of the Extractive Industries Transparency Initiative (EITI) and naturally of the IGF.
Jules Alingete is keen to obtain substantial financial compensation for the grievances raised in the Chinese contract.
And these damages must be accompanied, firstly, by a change in the distribution of capital and profits in Sicomines.
Secondly, the mining joint venture must be based on a new balanced distribution of responsibilities as well as an increase in the amount of Chinese investments in infrastructure, at least by doubling, i.e. from 3 to 6 billion dollars in the short term, before to bring the bill to $17 billion.
Third, respecting deadlines in the construction and delivery of agreed infrastructure.
On the Chinese side, failing to veto Jules Alingete's claims, they seem to be building a wall around the advantages acquired during Kabila's time.
Another time, other customs, we respond to the IGF.
.mediacongo
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to them since they put tariffs on them, but just keep that between us 
