Cominiere

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11/04/2022

La Cominière gives great pleasure to the Chinese Zijin in the lithium project

KINSHASA, PARIS, BRUSSELS.
Soft International n°1550

In a letter that sounds like a fire, the General Inspectorate of Finance reportedly wrote to Prime Minister Jean-Michel Sama Lukonde Kyenge and pays particular attention to him a note on the results of a control of the regularity of the sale of the shares of Cominière SA, a company of the State Portfolio, in the company Dathcom Mining SA.

The note? A real arrest of the Head of Government...

The case? Better, the umpteenth case, because they are now legion: the 15% of the shares of the public company La Cominière in the company Dathcom Mining to the Chinese company Zijin Mining, carried out in violation of the legal provisions on the disengagement of the State of companies from the Portfolio.
These shares were valued at US$150,000,000, they were sold at US$33,440,000. Shortfall: 116,560,000 US$.

Then, the squandering of the proceeds of this sale. Of these 33,440,000 US$ received and, in collusion with the Board of Directors of Cominière SA, the managers of this public company have already distributed US$6,800,000.

The reasons, in their eyes, are not lacking: payment of snacks, fees, commissions and remuneration to the one who contributed to the realization of this operation.

And, since there are no two without three, free sale of the 5% of the shares of Cominière SA in Dathcom Minging SA to Dathomir Mining Sarl. Of which 5% would have been resold for US$85 million. A scheme that recalls many others...

WHAT WILL THE PRIME MINISTER DO?
In this leaked letter, three points stand out clearly and are bolded and underlined: "sold-off of the State's mining heritage"; "dilapidation of the proceeds from the sale of 15% of Cominière SA's shares in Dathcom Minging"; "free sale...". In short, a scandal that awaits an exemplary sanction.

The IFB, which knows how to call a cat a cat, suspects three officials: the Director General Administrator a.i. of Cominière SA, Athanase Mwamba Misao, the members of the Board of Directors of Cominière who would have authorized these operations, the Minister of the Portfolio Adèle Kahinda Mayina.

According to the circles close to the file, it is following the recommendations issued by H.E. the President of the Republic, Head of State, for the supervision of all financial operations of the State, (that) the General Inspectorate of Finance has just carried out a mission to control the transfer of the shares of Cominière SA, a State Portfolio Company, in the company Dathcom Mining

After this control mission, three important facts stand out and for which "we seize your authority for decision," writes the letter.

It is about: selling off the State's mining heritage. The sale of 15% of the shares of the Public Company La Cominière in the company Dathcom Mining to the company Zijin Mining was carried out in violation of the legal provisions on the disengagement of the State of Portfolio companies.

Indeed, the 15% of the shares of Cominière SA valued at US$150,000,000 (US dollars one hundred and fifty million) were transferred to Zijin Mining for a total value of US$33,440,000 (US dollars thirty-three million four hundred and forty thousand). This is followed by a shortfall of US$116,560,000 (U.S. dollars one hundred and sixteen million five hundred and sixty thousand); "dilapidation of the proceeds of the sale of 15% of Cominière SA's shares in Dathcom Mining.

Of the total amount of the proceeds from the transfer of 15% of the shares, which amounts to US$33,440,000 (U.S. dollars thirty-three million four hundred and forty thousand), Cominière SA has already used about US$6,800,000 (US dollars sin million eight hundred thousand) for snacks, fees, commission and remuneration for the benefit of the people who contributed to

Then: "Free assignment of the 5% of the shares of Cominière SA in Dathcom Mining SA to Dathomir Mining Sarl. The presumed free and provisional transfer of 5% of Cominière's shares in Dathcom Mining SA to Dathomir Mining Sarl, which took place in 2017, turned out in relation to the transfer contract that it was final and irrevocable, with a price agreed between the two parties, but whose revenues were not traced back to Cominière SA. There is a presumption of use of forgery on the part of the Director General a.i. to carry out a fraudulent transfer of 5% of shares".

Then to close by designating those responsible. "All these facts are the responsibility of the Director General a.i of the company Cominière SA, the members of the Board of Directors of the said company as well as the Minister of State, Minister of the Portfolio".

La Cominière SA is a young mining company whose head office is located at n°5167, avenue Nyembo, Socimat district, in Kinshasa-Gombe. It was created on April 12, 2010 after the decision of the General Meeting of Shareholders, namely, the Ministry of Portfolio and the National Institute of Social Security whose new name, since July 15, 2018 (law of July 15, 2016), is the National Social Security Fund, CNSS.

THE INFLUENT CONG MAO HUAI.
La Cominière holds 35 mining perimeters scattered in Northern Katanga, in the provinces of Tanganyika and Haut-Lomami where pegmatite-type rocks rich in spodumene, a lithium mineral associated with stanno-coltaniferous ores, are found.

More specifically in the territories of Manono, Mitwaba, Kalemie, Malemba-Nkulu, Bukama, Moba, Nyunzu, Kongolo.

The company conducts all study, prospecting, research and mining operations of caserite, tantalum, niobium, wolfram, lithium, gold and all conceivable and recoverable mineral substances.
Cominière's history dates back to 1920 when the Geological and Mining Company of Belgian engineers and industrialists extracted tin in Manono. In 1960, in the aftermath of independence, the Geological and Mining Company sold its assets to the Congo Geological and Mining Society.

Renamed in 1968 Congo-Stain, then in 1971 Zaire-Stain, the company saw its production fall gradually. In 1997, it took over the name of Congo-Etain, before being reborn, in the early 2010s, under the name of Cominière, the Congolese Mining Industry, whose capital is held by the Congolese State (90%) and the National Social Security Fund (10%).

The company Dathomir Mining Resources, owned by the influential Chinese businessman Cong Mao Huai, called in Congo Simon Cong, and considered the bridgehead of the Chinese business in the country, concluded, in September 2020, concluded an agreement to sell 10% of its shares in Manono to the Australian operator of the project, AVZ Minerals.

The finalization of the transaction makes AVZ Minerals the owner of 75% of the lithium site against 25% for the Cominière State company.

Zijin Mining is a Chinese mining company. It is the third largest copper company in China. It is the main gold company in China and operates the Zijinshan mine, the largest gold mine in China. In May 2015, Zijin Mining bought 47% of the Kamoa project for US$412 million from Canadian Ivanhoe Mines.

In total, Zijin Mining has 57% in the Kamoa copper mine and 51% shares through its subsidiary Jin Cheng Mining in the Musonoie Global Mining Company.

Classified as a strategic metal in Congo, lithium is a rare metal. It is used in the manufacture of batteries and batteries, particularly for solar panels, computers, smartphones and electric cars, but also in the glass and ceramics industry, such as in the manufacture of special lubricants and alloys, the treatment of CO2-ssized air, the pharmaceutical industry and the rubber and thermoplastics industry.

The world's largest lithium producers are to date Bolivia, Chile and Argentina, called "lithium triangle", as well as China and Australia. Congo's lithium could eventually prove to be the easiest to extract and of the highest quality. The country, which is home to a number of metals essential to the energy transition and which are stirring up covetousness, is already the world's leading supplier of cobalt and one of the major players in copper production, attracts the whole world with its immense lithium reserves to its arc.
D. DADEI.

La Cominière fait grand plaisir au chinois Zijin dans le projet de lithium | Le Soft international

www.lesoftonline.net

 

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08/08/2022

Lithium de Manono: Jules Alingete charges the CEO of COMINIERE for selling off and mismanagement​

August 8, 2022 TIGHANA MASIALA

For several months, the consortium "THE DRC AND ITS PEOPLE D'ABORD", made up of non-governmental organizations and media members of the coalition "TOUS POUR LA RDC", the Network of Communicators for the Environment (RCEN) and partner media are increasingly interested in the operation of public mining companies forgotten by the public and which seem to be of less importance to the Government even though they possess significant deposits and have signed partnerships as much as Gécamines and Sokimo did. Spotlight on the lithium of Manono, in the province of Tanganyika, which involves COMINIERE, a company of the State Portfolio. What exactly is it. Word to the General Inspectorate of Finance (IGF).

Having consulted several documents relating to the Congolaise d'Exploitation Minière SA (COMINIERE), he concluded that there was poor management and above all the impunity of the managers whose interim dates back several years, a record achieved, without this being of interest to the government or parliament supposed to defend the interests of the country and the people.

Indeed, everything suggests that only two partnerships (SEGMAL with MMR and DATHCOM with DATHO-MIR and AVZ) are viable while others are not despite dozens of tons of coltan illegally exploited by a subsidiary of a Canadian company and subject of a legal case concerning the United COMINIERE (UC) partnership. A series of publications will henceforth be devoted to it in order to provide objective information on what is happening.

This first publication concerns the Dathcom Mining partnership and will be made in two stages, the first of which reviews the partnership contract and the final observations sheet addressed to the general manager ai of COMINIERE SA on April 04, 2022 through the correspondence referenced N ° 0552/PR/IGF/OM 54-2022/NMM/2022, as well as on the basis of the document entitled "Amendment No. 1 to the Joint-Venture Agreement entered into on March 25, 2017 between LA CONGOLAISE D'EXPLOITATION MINIERE SA (COMINIERE) represented by Mr. Athanase MWAMBA MISAO, Acting General Manager; AVZ MINERALS LIMITED represented by Mr. KLAUS ECKHOF, Managing Director; DATHCOM MINING SAS represented by its President CONG MAOHUAI; DATHO-MIR MINING RESOURCES SARL represented by Mr. CONG MAOHUAI,

Illegal transfers of undervalued shares in DATHCOM Mining for the benefit of the Chinese and poor management of revenues
To date, this mining company of the State Portfolio only owns 10% of the shares in the joint venture company while it held 30% before its sales operations contested by the General Inspectorate of Finance to DATHOMIR and ZIJ-JIN, companies with Chinese interests. The Australian-American group AVZ holds 60% while the two DATHOMIR and ZIJIN share the rest equally.

According to this two-page correspondence, signed by MM MUHIYA LUMBU Nicolas (Inspector General of Finance Head of Brigade of Revenue and Tax Services) and ALINGETE KEY Jules (Inspector General of Finance - Head of Service), it is written this on page 2 “The mission made three main observations, namely:

1. The transfer of the 15% of COMINIERE's shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State from the companies in the Portfolio and caused, with regard to the evaluations made in the study of feasibility, a significant shortfall for the Public Treasury estimated at USD116,560,000.00 (US dollars one hundred and sixteen million five hundred and sixty thousand). It was a real selling off of the State's mining heritage, for which you are responsible;
2. Of the total amount of proceeds from the sale of 15% of the shares, which amounts to USD33,440,000.00 (US dollars thirty-three million four hundred and forty thousand), you have already used approximately USD 6,800,000.00 (US dollars six million eight hundred thousand) for operating needs to the detriment of productive investments including USD 5,438,198.00 (US dollars five million four hundred thirty-eight thousand one hundred and ninety-eight) for commissions, snacks, fees , exceptional remuneration of all those who would have contributed to the operation;
3. The presumed free and provisional transfer of 5% of COMINIERE's shares in DATHCOM Mining to DATHOMIR Mining Sarl, but which with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE. “
   Among other observations of the IGF, the most interesting to mention are:

• The violation, by the partners of COMINIERE SA, of the contractual provisions prohibiting them from selling their shares before the date of commercial production without giving rise to any reaction on your part;
• The choice of consultants FOCUS PLAIDOIRIE, Alpha BUSINESS COMPANY and Association of Mining and Quarrying Agents, over the counter in violation of public procurement legislation;
• The transfer of Exploration Permits without payment of the transfer price to COMINIERE when the transfer contract provides for it;
• Illegal assignments of Mining Titles by Assignees to the detriment of COMINIERE SA…”.
  The feasibility study that the IGF talks about is the one made by AVZ and presented by DATHCOM Mining to the government in accordance with the mining legislation of the Democratic Republic of Congo, our consortium has read a copy of the summary.

The criminal responsibility of the manager, according to the IGF
The transfer of 15% of the shares of COMINIERE to ZIJIN Mining Ldt (a Chinese group shareholder of Gécamines in COMMUS and of IVANHOE in Kamoa Copper in Lualaba) was made with authorization "by the two owners (Congolese State and CNSS)", according to the letter Ref: CEM/DG/074/amm/2021 of 09/17/2021 signed by Athanase MWAMBA MISAO, general manager ai of COMINIERE SA, addressed "To Mr. Christian LUKUSA , legal counsel for AVZ Minerals, of which we have seen a copy.

And in its letter Ref: CEM/DG/073/amm/2021 of 09/17/2021 signed by Athanase MWAMBA MISAO, addressed "To Mr. NIGEL FERGUSON, President of the Company DATHCOM MINING SAS", having for object: "Notification of transfer of 15% of COMINIERE SA shares and request to convene an EGM", of which our consortium has seen a copy, it is thus written from the first to the third paragraphs: "We have the advantage of notifying you of the sale of 15% of COMINIERE SA in favor of ZIJIN MINING COMPANY Ltd. It should be noted that we have complied with the statutory clauses by duly informing the two other shareholders, namely on the one hand, DATHOMIR Mining Resources SARLU which had encouraged negotiations on the share purchase proposal formulated by the company ZIJIN MINING COMPANY Ltd and on the other hand, correspondence was sent to the AVZ shareholder who did not exercise his right of pre-emption within the required period (Article 11.2 of the DATHCOM MINING SAS statutes). In addition, as a State Portfolio Company, our company has obtained the approval of the Minister of State, Minister of the Portfolio for this transfer”.

But IGF is clear about the fact that there was a violation of the law during this transfer, whether by order of the supervising minister or the owners despite Dathomir's non-objection: "The control team maintains the observation , because the general manager ai is effectively content to transfer the mining rights without valuing them beforehand. Aware that the partnerships initiated do not really benefit the State-owner, the Director General ai is embarrassed to display the meager results he has obtained. He could therefore not prove the contrary.

This is the position of the IGF in its document referenced FO/54&73/PR/IGF/IG-CS/JAK/BRF/2022, a copy of which we have read.
Concerning the transfer of 5% of the shares of COMINIERE to DATHOMIR belonging to another Chinese, COMINIERE told the IGF investigators the following: "The Company DATHO-MIR MINING SA had requested from COMINIERE SA the transfer of 5 % of action to enable it to raise the necessary funds for the rehabilitation of the Lubumbashi-Manono road. This assignment was temporary and motivated by this single imperative. COMINIERE SA submitted this question to the Minister of Portfolio who gave his agreement in principle. However, concerning the monitoring committee, COMINIERE SA was set aside because the monitoring was the responsibility of an ad hoc commission composed of the Ministry of Portfolio, the Ministry of Infrastructure and the Congolese Agency for Major Works”.

A position rejected by the IGF which decides: "Not only that the prerequisites were not satisfied, but moreover and above all, there was use of forgery on the part of the Director General ai who, in his correspondence, did not hadn't told the Minister of Portfolio the truth. Indeed, the contract for the transfer of the 5% shares of COMINIERE SA signed on November 27, 2017 with the company DATHOMIR MINING SARL, duly notarized contract, makes the following findings: far from being provisional, the transfer of 5% of the shares of COMINIERE to DATHCOM MINING was indeed definitive and irrevocable; Far from being free, the transfer was made at a price agreed between the parties, but not stated anywhere in the transfer contract for reasons known only to the Managing Director.

The IGF notes with surprise that the Director General has defended DATHOMIR tooth and nail, therefore engages his responsibility in all that he is accused of.

Ignorance of the IGF report or complicit silence from the government?
The Ministry of Portfolio appears to be the great accomplice of the current poor health of this State mining company for several reasons, including the non-renewal of the representatives and the poor health of this company under its supervision, while the Ministry of Justice seems to have ignored the clear recommendations of the recent audit of the General Inspectorate of Finance as well as the decisions of its own services in addition to the judgments of the courts and tribunals of Lubumbashi against certain partners.

What is the follow-up reserved by the Prime Minister, the Ministers of the Portfolio and of Justice to these serious revelations of the General Inspectorate of Finances (IGF) having established the criminal responsibility of the general manager ai of COMINIERE on the illegal and irregular transfer shares, their undervaluation, the misuse of income as well as sales money not traced by the financial watchdog of the Presidency in the accounts of this company in the State Portfolio since the beginning of the month from April 2022? When will the appointment of new patriotic and conscientious agents at the head of public mining companies such as COMINIERE and SOKIMO under the management of temporary workers for several years, at SODIMICO, ENTREPRISE MINIERE KISENGE MANGANESE, SAKIMA as well as MIBA which seem not to interest the leaders of the country? The rule of law that the President of the Republic, Félix Tshisekedi, wants and the efficient management of the people's mineral resources also depend on it.

The colleagues of the Kinshasa newspaper "Le Soft International" had already launched the alert on the scandal committed by COMINIERE in its edition N ° 1550 of April 11, 2022 without any institution of the Republic reacting, we repeat it and will continue to do so. to do by way of our support for the fight of the Head of State against the predators of public goods, a pillar of his vision of natural resources which must benefit the people first and not a few individuals whoever they are.

A survey carried out by EcoNews, Forum des As, Congo Nouveau, Leader, Mining News Magazine, Le Socle and the “Tous pour la RDC” coalition.

Lithium de Manono : Jules Alingete charge le DG a.i. de la COMINIERE pour bradage et mauvaise gestion - L'info qui fait échos

Depuis quelques mois, le consortium « LA RDC ET SON PEUPLE D’ABORD », constitué d’organisations non gouvernementales et médias membres de la coalition « TOUS POUR LA RDC », <a class="mh-excerpt-more"...

econewsrdc.com

20/11/2022​

DRC - Mines: COMINIERE SA accused of blocking the Manono Lithium production project, this mineral prized in the manufacture of electric batteries (Civil Society)​

The Congolese state portfolio company COMINIERE SA is accused of continuing to multiply illegal maneuvers to block the effective start-up of Dathcom's lithium mining project
Mining SA, in Manono, Tanganyika province.

The denunciation is made by the organizations and platforms of the society under Congolese law, in a press release whose copy reached the drafting of 7SUR7. CD this Sunday, November 20, 2022.

They want as proof of this the call for tender described as unregular launched in September 2022 by the general management of COMINIERE SA for the rehabilitation work of the power plants in Mpiana - Mwanga, which they believe are abandoned.

An irregular call for tenders
This press release points out that this call for tenders sufficiently demonstrates how much COMINIERE SA is keen, against all odds, to block the effective start of the work of the lithium mining project, this mineral prized in the manufacture of electric batteries, essential in the fight against the global warming against which the DRC is positioning itself in a solution country.

For civil society, COMINIERE SA and the Ministry of Portfolio cannot offer the rehabilitation market for these power plants to the Chinese company Zijin, as stated by a COMINIERE delegate at the meeting held on November 12, 2022 in Manono.

They recall that the Congolese government has already signed an agreement with AVZ POWER SARLU to rehabilitate the plants concerned in compliance with the laws of the country and the international standards in the sector to provide energy to Dathcom Mining SA for its mining operations as well as to public and private schools and hospitals (health centers) in Manono and its surroundings, not to mention a quantity to be used by the State for the electrification of the city of Manono and Mpiana-Mwanga.

President Tshisekedi called to ensure the integrity of the leaders of the COMINIERE

Based on this observation, civil society asks President Félix-Antoine Tshisekedi to ensure that the climate of trust reigns between the shareholders of the joint venture Dathcom Mining SA so that operating operations begin urgently and to give orders to the state services for Dathcom Mining SA to be notified and that the 10% of action of the State are effectively registered in the register of the Mining Cadastre, in accordance with
mining legislation.

The Congolese Head of State is also invited to ensure that the people proposed by the Ministry of the Portfolio are honest and will defend the interests of the State in Dathcom Mining SA, United Cominière SA and others partnership companies at COMINIERE SA and to prohibit any interference or interference of certain members of the government, institutions and cabinets at the national level and in the provinces with direct or indirect interests with this state enterprise.

To the Prime Minister-in-Chief of Government, the company's organizations and platforms recommend asking the Minister of the Portfolio, in accordance with the conclusions of the Report of the IGF, to urgently recruit by selective testing of new representatives to direct the COMMINIERE, "leased for years in the hands of two people (the Deputy Director General and the Technical Director) who impose their will at the expense of the interests of local communities and the Republic."

Stop sowing confusion
The Minister of the Portfolio is asked to stop causing confusion and play a role that blocks the development of the mining project of Dathcom Mining SA, to take into account the conclusions of the IGF roadmap (Report) on its poor role in the illegal sale of the 15% of the shares to a Zijin company as well as the sale of the assets of Cominière SA by its interim management, then draw all the factual conclusions and of law.

The Minister of the Portfolio is also called upon to respect and support the Memorandum of Understanding signed by the Government of the Republic, at
through the Minister in charge of the energy sector, and AVZ POWER SAU, for the rehabilitation of Mpiana-Mwanga power plants.

For his part, the Minister of Hydrocarbons and Electricity Resources is invited to ensure that the rehabilitation work of the Mpiana-Mwanga power plants is carried out normally given the agreement signed with AVZ POWER SAU which engages the entire government and the DRC and to ensure with its portfolio colleague that the COMINIERE SA Management ceases to create an additional blockage against the effective start of the work of Dathcom's lithium mining project Mining SA.

Leaders of the COMINIERE called to resign

Finally, the leaders of COMINIERE SA are called upon to resign taking into account the conclusions of the General Inspectorate of Finance (IGF) on their management and the sale of the assets of this state enterprise.

The organizations and platforms of civil society in the DRC that signed this press release are: CDH, ESPOIR ONGDH, JUSTICIA Asbl, LICOCO, MAX IMPACT, MDR, POM, RCEN, RDN Asbl, CERN/CENCO AND TPRDC.
ODN

RDC - Mines : La COMINIERE SA accusée de bloquer le projet de production du Lithium de Manono, ce minerais prisé dans la fabrication des batteries électriques ( Société civile)

La société du portefeuille de l'Etat congolais COMINIERE SA est accusée de continuer à multiplier les manœuvres illégales pour bloquer le démarrage effectif du projet minier de lithium de Dathcom Mining SA, à Manono, dans la province de Tanganyika. La dénonciation est faite par les...

7sur7.cd

20/11/2022​

Civil Society points to the culprit and mobilizes to save the Manono lithium mining project​

November 20, 2022 Faustin KUEDIASALA 0

The lithium mining project in Manono, in the province of Tanganyika, is stalling. And civil society, evolving in the natural resources sector, does not hesitate to name the culprit: Cominière (Congolese mining company), this company of the State Portfolio born from the vestiges of Zaire-Etain.

In a statement, made simultaneously, on November 20, 2022, in Kinshasa, Kolwezi, Lubumbashi and Bukavu, these Civil Society Organizations note that "the management of Cominière SA must stop blocking Manono's development and undermining the presidential energy policy and the development of 145 territories by multiplying strategies to block Dathcom Mining".

From the outset, these Civil Society Organizations specialized in natural resources issues say they note "agitation and maneuvers on the part of certain administrative and judicial government services as well as Cominière SA in order to freeze the notification of the Operating Permit of Dathcom Mining SA and communicate to it the total amount of surface rights due to the State; this constitutes serious damage not only for the Congolese party of this mineral prized in the manufacture of electric batteries essential in the fight against global warming against which the DRC is positioning itself as a solution country for the global energy transition".

They base their conviction on documented investigations with the ministry that manages electricity in the Democratic Republic of Congo.

"Taking into account these known facts of the Cominière SA Directorate and the string shooters to be identified", these Organizations "eviously and patriotic" recommend that the country's authorities do everything possible to remove all the locks that block the effective start of the Manono lithium project.

Especially to the President of the Republic, these Organizations are waiting to see him: "ensure that the climate of trust prevails among the shareholders of Dathcom Mining SA so that operating operations begin urgently; give orders to the state services for Dathcom Mining SA to be notified and that the 10% of the State's share is effectively recorded in the register of the mining Cadastre in accordance institutions and cabinets at the national level and in the provinces with direct or indirect interests with this state company". Completeness of their press release.

econewsrdc.com


21/11/2022
DRC: La Cominière in the sights of the 12 NGOs

Denise Maheho
November 21, 2022
News,Headlines,Mines

A dozen national organizations accuse the public company Cominière S A of blocking the Manono Lithium project. Indeed, to start the exploitation of this strategic ore, there is a prerequisite, it is access to electrical energy. However, discussions about the rehabilitation of the Mpyana Mwanga hydroelectric plants seem to be skating.

In a statement published on November 20, 12 civil society organizations return to the chronology of the facts that illustrate this blockage. Since colonial times, the Manono territory has housed two hydroelectric dams belonging to Cominière SA to this day. This is Mpyana Mwanga I and II located 87 km from the center of Manono. However, these dams require rehabilitation because they were destroyed during the 1997-1998 war.

Because the restoration of electrical energy in Manono is an imperative for the exploitation of Lithium by AVZ Mineral.

Discussions at a standstill​

As a result, AVZ POWER SAU, another Australian company, in June 2019 expressed its interest in a hydroelectric development project at the Mpiana-Mwanga site. This was followed not only by several correspondence exchanges with the Congolese State but also field missions. A technical coordination committee has even been created, one of whose members is the representative of the Cominière.

Then, on January 13, 2020, the DRC signed a Memorandum of Understanding with the company AVZ POWER SAU. This concerned the rehabilitation of the Mpiana-Mwanga I and II hydroelectric plants. And in March 2020, AVZ POWER SAU sent the Ministry of Hydraulic Resources the feasibility study of the Mpiana-Mwanga hydroelectric power plant. In addition, the company continued with studies and downsings on the ground that led to the approval of the feasibility study in April 2021.

In addition, the file is taking another turn in 2022. Cominiere SA, owner of the Mpyana Mwanga power plants, is launching a call for tenders. According to civil society organizations, this public company claims that the so-called central plants are abandoned. A Chinese company Zijin would even be selected to carry out rehabilitation work. A situation that creates confusion and blocks the progress of the Lithium mining project deplores NGOs. They are thus asking the government to restore order and respect its commitments to AVZ POWER.

RDC : La Cominière dans le viseur des 12 ONG​

La Cominière s'oppose-t-elle à la réhabilitation des centrales hydroélectriques de Mpyana Mwanga par AVZ POWER ?
magazinelaguardia.info

 

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26/11/2022

Manono: Lithium Gate? Arrest of the DG of the COMINIERE for illegal sale of 15% of the shares to the Chinese of Zijin, US$116 million in loss.​

November 26, 2022
Kiki Kienge
MANONO GATE! NEWSECONOMY

With this action by the Congolese justice system, is this the beginning of the release in the exploitation of Manono lithium by AVZ Minerals?

It is on the basis of a report by the IGF (General Inspectorate of Finance) filed at the Court of Appeal of Gombe since April 21, 2022, that the Attorney General of Kinshasa ordered the arrest of the Director General and Technical Director of COMINIERE S.A, Athanase Mwamba andCélestin Kibeya.

This even confirmed by the ACAAJ (Congolese Association for Access to Justice) in a Tweet;

"The Prosecutor General of Kinshasa/Gombe has just ordered the arrest of Chief Executive Officer and Technical Director of the public company COMINIERE S.A. He criticizes them for the "mismanagement" of funds resulting from the sale of 15% of shares to a Chinese company. ”

The IGF report concluded in a fraudulent sale of 15% of the shares of the Congolese State to the Chinese company Zijin, the Cominiere had sold to the Chinese of Zijing at US$33,440 million precisely shares worth US$150 million, a loss of US$ 1166,560,000 million for the Congolese State funds;

"The transfer of the 15% of COMINIERE's shares in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the disengagement of the State from the Portfolio companies (...)"

At this point according to the IGF report which considers 15% sales to Zijing and 5% to MMS illegal, AVZ would own 75% (with 15% of Dathomir) of the shares in Datcom and the Congolese State 25%.

In genesis in the operation of lithium in Manono, there was the joint venture company between the COMINIERE and DATHOMIR of the Chinese Simon Cong owner of the Kempinski hotel river in Kinshasa, which gave birth to DATHCOM, with 30% respectively to the Congolese State and 70% for the Chinese. Australians of AVZ Minerals will buy 60% of its shares in Dathcom and will obtain 5% surplus from the Congolese state for social achievements, such as the construction of roads, schools, hospitals...

After AVZ Minerals following an agreement with Dathomir came into possession of the 15% of the Chinese company Simon Cong, but after the filing of the operating license and the increase in the price of AVZ Minerals shares on the stock exchange, Simon Cong returns to his signing of the sales contract with AVZ Minerals and wants to regain possession of the 15%.

5 years after the Cominiere through its general manager, accuses AVZ Minerals of having achieved nothing in Manono and sells "illegally" to the detriment of the Congolese State 15% of its shares to the Chinese company Zijing, which wants at all costs to enter the exploitation of lithium in Manono;

"The sale of the 15% to the Zijing Group," based on the assessments made in the feasibility study, caused a significant shortfall for the Treasury valued at $11,56,5060,000. It was a real sale of the state's mining heritage for which you assume responsibility." IGF report.
The Chinese company, Zijing, had in particular recognized the illegal sale and decided to refund the 15% to the Congolese State without claiming anything in return, as this video shows;

The IGF report points in particular to the sale of 5% of the COMINIERE shares in DATHCOM to MMS;

"The alleged gracious and provisional transfer of 5% of the shares of the COMINIERE in DATHCOM Mining to DATHOMIR Mining SARL, but as regards the transfer contract, was final and irrevocable without the proceeds from the transfer being traced to the COMINIERE. ”
According to a source, many names appear in the IGF report, in particular of some political and institutional personalities, with the arrest of the two directors of the Cominiere, it would only be the beginning of Manono Gate

Manono : Lithium Gate ? Arrestation du DG de la COMINIERE pour vente illégale de 15% des parts aux Chinois de Zijin, 116 Millions $US de perte. - Kongo Presse

Par Kiki Kienge Avec cette action de la justice Congolaise, est-ce le début du déblocage dans l’exploitation du lithium de Manono par AVZ Minerals ? C’est sur base d’un rapport…

kongopress.com

27/11/2022
Dathcom and Manono's lithium: COMINIERE's DG and DT in the sights of Justice

November 27, 2022Faustin KUEDIASALA0

Athanase Mwamba, DG ai of COMINIERE, the man by whom the whole mafia prospered within this Portfolio company

Better late than never, they say. Finally, the Congolese Justice decided to look into the serious indications of embezzlement contained in the last report of the IGF (General Inspectorate of Finances) in relation to the opacity which surrounded the sale of the shares of the company of the Portfolio , COMINIERE, in the Joint-Venture Dathcom, i.e. 15% of the shares sold to the Chinese company Zijin. According to Georges Kapiamba, President of ACAJ (Congolese Association for Access to Justice), the Attorney General at the Kinshasa/Gombe Court of Appeal has just ordered the arrest of Director General (DG) ai and Technical Director (DT) of COMINIERE SA He blames them for the “poor management” of the funds resulting from the sale of 15% of shares to a Chinese company. In return, they would have received nearly 34 million USD for a transaction which was equivalent in principle to approximately 150 million USD. Worse, the allocation of these 34 million USD, according to an IGF report dated April 2022, was surrounded by a great mystery that Justice would like to elucidate.

After the multiple alerts from civil society around the Manono lithium exploitation project, in the province of Tanganyika, by the joint venture Dathcom, it is the turn of Justice to take up this case.

According to Me Georges Kapiamba, president of the NGO ACAJ, "the Prosecutor General of Kinshasa/Gombe has just ordered the arrest of the Managing Director and Technical Director of the public company COMINIERE SA. He reproaches them for the + mismanagement + of the funds resulting from the sale of 15% of shares to a Chinese company ”.

The results of the IGF investigation of April 2022 had already condemned the management team of COMINIERE, considering that the sale of its shares in DATHCOM had been done in the most total opacity.

Indiscretions report that the sale of 15% of the shares of COMINIERE to the Chinese company ZIJIN was made in return for approximately 34 million USD, instead of 150 million USD, note the most probable estimates. What's worse, the 34 million USD received in this transaction are difficult to trace, noted the IGF in its report.

In civil society, we would also like Justice to go much further by taking an interest in 5% of the shares of COMINIERE sold to Dathomir, without any real consideration.

“They must also pay for the 5% of COMINIERE graciously ceded irrevocably to Dathomir according to the IGF Report. Let them cite their accomplices in evil, in selling off ,” Frank Fwamba of the “ Tous pour la RDC ” coalition wrote on his twitter account .

It will be recalled that, in its report of April 2022 relating to " the control of the regularization of the transfer of the shares of COMINIERE SA, a public law company, in the company DATHCOM MINING ", the IGF had expressed serious irregularities in these operations.

" The control mission formulated its final observations of a long adversarial procedure, which began with the Provisional observations sheet which allowed you first to reserve written supporting answers, then to elucidate them during an adversarial debate which gave rise to the signing of the minutes ”, noted, in this regard, the boss of the IGF, Jules Alingete, in the sheet of final observations sent to the ad interim director general of COMINIERE.

The mission made three main observations, namely: The sale of COMINIERE's 15% stake in DATHCOM to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State from the companies in the Portfolio and caused, with regard to the assessments made in the feasibility study , a significant shortfall for the public treasury estimated at USD 116,560,000.00 (US dollars one hundred and sixteen million five hundred and sixty thousand). It was a real selling off of the State's mining heritage, for which you are responsible; Of the total amount of proceeds from the sale of 15% of the shares, which amounts to USD 33,440,000.00 (US dollars thirty-three million four hundred and forty thousand), you have already used approximately USD 6,800,000, 00 (US dollars six million eight hundred thousand) for operating needs to the detriment of productive investments including USD 5,438,198.00 (US dollars five million four hundred thirty-eight thousand one hundred and ninety-eight) for commissions , collations, fees, exceptional remuneration of all those who would have contributed to the operation;

The presumed free and provisional transfer of 5% of COMIERE's shares in DATHCOM Mining to DATHCOM Mining Sarl, but which with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE exceptional remuneration of all those who would have contributed to the operation;

The presumed free and provisional transfer of 5% of COMIERE's shares in DATHCOM Mining to DATHCOM Mining Sarl, but which with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE exceptional remuneration of all those who would have contributed to the operation; The presumed free and provisional transfer of 5% of COMIERE's shares in DATHCOM Mining to DATHCOM Mining Sarl, but which with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE ".

Today, it is before the Justice that the DG ai and the DT of COMINIERE must explain themselves. If the DT seems to clear himself of any responsibility, internally, it is indicated that he also committed acts as DG. In short, the DT cannot therefore disorient the Justice by arguing that he did not participate in the management. He is part of the game and must assume his actions until the end.

Dathcom et le lithium de Manono : le DG et le DT de COMINIERE dans le collimateur de la Justice - L'info qui fait échos

Vaut mieux tard que jamais, dit-on. Enfin, la Justice congolaise a décidé de se pencher sur les graves indices de détournement contenus dans le dernier <a class="mh-excerpt-more"...

econewsrdc.com

28/11/2022

The DG of Cominière arrested and transferred to Makala prison

The general prosecutor's office of Kinshasa/Gombe arrested last Friday the CEO of the company Cominière, Athanase Mwamba, would be accused of selling off the mining assets of this state company. After being heard, the general manager of Cominière was taken to Makala prison.

According to the press release from 12 civil society organizations on Sunday, the arrest of the DG de la Cominière by the courts aims to fight corruption. Indeed, recall these organizations, this manager would have, during the sale, undervalued the shares of this state company in the DATCOM company. For these organizations, including Justicia, Ganve CERN-CENCO, this act constitutes a sell-off of the mining heritage of the State.

Moreover always indicate these organizations, several reproaches were made to the persons in charge for the company of Manono. It is in particular the lethargy in the follow-up of the files of certain joint-ventures. Also, the transfer deemed illegal of two mining squares to the Chinese company Hongkong Excellent mining. The latter would have no link with Cominière SA, yet the two mining squares sold are registered in the mining cadastre.
To this end, the NGOs recommend that each public authority play its role in the protection and defense of natural resources. They demand that justice be done in this case.

Responsibility of the Board of Directors
On the Cominière side, we learn that its general manager is in pre-trial detention in Makala prison in Kinshasa. Meanwhile, the management of Manono's company indicates that it would not have acted of its own free will. All the decisions taken were made at the end of the meetings of the Board of Directors.

As a reminder, a week ago, the same civil society organizations stepped up to the plate. They once again accused DG Athanase Mwamba of blocking the rehabilitation of the Mpiana Mwanga dam. What the latter rejected, affirming that the agreement signed between AVZ Power and the Congolese State is illegal. And to add that the Chinese company which won the market is preparing to start the work.

La Guardia magazine / MCP, via mediacongo.net

Actualité | Le DG de la Cominière interpellé et transféré à la prison de Makala | mediacongo.net

Le parquet général de Kinshasa/ Gombe a interpellé vendredi dernier le DG de la société Cominière, Athanase Mwamba, serait accusé de...

www.mediacongo.net

28/11/2022

INVESTIGATION

DRC: this is why civil society organizations specializing in mining issues are asking Tshisekedi to dismiss the portfolio minister​

November 28, 2022

By Gilbert Ngonga
In a joint press release, Congolese civil society organizations and platforms specializing in mining issues (Justicia Asbl, LICOCO, RND Asbl, POM, MDR, GANVE, CDH, ESPOIR ONG, RCEN, CERN / CENCO, TPRDC, MAX IMPACT) , who have been monitoring the exploitation of natural resources in the Democratic Republic of Congo, ask the President of the Republic to dismiss the Minister of Portfolio of the Government of the Republic, for not having respected the vision of the Head of the State on the fight against anti-values in the companies of the Portfolio, and for having ignored the reports of the Superior Council of the Portfolio of 2021 and of the General Inspectorate of Finances of 2022 on COMINIERE SA by protecting agents accused of selling off,mismanagement of state assets and incompetence for reasons to be given to justice.

These organizations also ask Félix Tshisekedi to kindly change the General Directorate of the Mining Cadastre in office for more than ten years and whose management of the register of State mining assets has been increasingly contested by several people since years.

Furthermore, they call on the President of the Republic to ensure that no interference or political pressure is exerted on the justice system regarding this case (COMMINIERE SA) which, according to these organizations, should serve as an example to all other officials of the portfolio companies.

To this end, these civil society organizations are asking the Prime Minister, Jean Michel Sama Lukonde, to urgently propose new competent and patriotic agents, for appointment by Félix Tshisekedi at COMINIERE SA "to replace those who failed to protect the interests of the State and those of the population, including that of Manono and Malemba Nkulu. »

RDC : voici pourquoi les organisations de la société civile spécialisées sur les questions minières demandent à Tshisekedi de révoquer la ministre du portefeuille | IWEB RDC

Par Gilbert Ngonga Dans un communiqué conjoint, les organisations et plateformes de la Société Civile congolaises spécialisées sur les questions minières ( Justicia Asbl , LICOCO , RND Asbl , POM , MDR , GANVE , CDH , ESPOIR ONG , RCEN , CERN / CENCO , TPRDC , MAX IMPACT ), qui ont fait

iwebrdc.com

02/12/2022

https://mines.cd/les-cessions-des-parts-sociales-de-la-cominiere-sa-a-dathcom-mining-sont-en-violation-des-dispositions-legales-la-responsalibilite-de-la-ministre-du-portefeuille-engagee-igf/

Bradage des actifs miniers de la COMINIERE : Jules Alingete accable Adèle Kanyinda et les dirigeants de cette entreprise

Un vrai scandale ! Un rapport de l’Inspection générale des finances (IGF), daté 30 novembre 2022, dont Exclusif s’est procuré une copie, met à nu le bradage planifié des actifs miniers de l

exclusifrdc.com

 

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05/12/2022

The IGF drops two new bombs

KINSHASA, PARIS, BRUSSELS.
The International Soft n°1567|MONDAY, DECEMBER 5, 2022.

If it had not existed, it would have had to be invented! How not to salute the IGF, under the direction of a man of principles, Jules Alingete Key, who shoots down a job and sets an example!

He was believed to be demoralized after assaults that are not lacking; he is believed to have reached his limits; there is nothing like it. Imperturbable, the General Inspectorate of Finance, continues its work. Consulted, listened to, cited as a model, the General Inspectorate of Finance has just dropped two new bombs.

After the Gécamines report published on June 3, 2022, several months after its announcement, the IGF is back on December 1, 2022, with two others on the same mining area:

Cominière SA, the commercial company under Congolese law, formerly Zaire-Etain; Sodimico SA, Société de Développement Industriel et Minier du Congo, based in Haut-Katanga, which manages part

THE IGF DID ITS PART, PLACE A LA JUSTICE.

As usual, overwhelming reports. The Cominière report in connection with the sale of the shares of this mining in the company Dathcom Mining?
Irrational assignment of mining rights without any prior assessment, but definitively and irrevocably. Abusive, systematic and irrational disposals of the Congolese State's mining rights without any prior assessment, against a maximum of 30% of shares in joint ventures".

How the Cominière sold off the 40 titles received from the Congolese State
Below, in full, the IGF summary report of the mission to control the transfer of the shares of Cominière SA in Dathcom Mining SA.

I. GENERAL.
La Congolaise de l'Exploitation Minière, abbreviated La Cominière S.A, is a commercial company under Congolese law, formerly called Zaire-Etain, whose total shares belong to the Congolese State. It has benefited from the Congolese State from 40 mining titles since its creation. To date, it owns only two. 37 mining titles have already been sold to various private partners and 1 title is for rent from Chemaf.
Among the 37 mining titles sold, 6 mining titles involving Lithium deposits were sold in a joint venture called Dathcom Mining with Australian and Chinese private individuals.

When Dathcom Mining was created, the shares were distributed as follows despite the fact that it was Cominière S.A. that brought the deposits of Lithium and other ores while Dathmir had to provide the financing:

◗ 70% Dathcom Mining Sarl;
◗ 30% Cominière SA.

II. HIGHLIGHTS.
II.1. MANAGEMENT OF THE COMINIERE IN PHASED WITH ITS SOCIAL OBJECT.

a. Substitution of the corporate purpose of mining, which creates high added value, for that of simple activities of taking a stake in mixed companies through definitive and irrevocable disposals of mining titles.
The corporate purpose of La Cominière SA as defined in its statutes is "to do all operations of studies, prospecting, research and mining of cassitérite, coltan, tin, etc. "

However, a practice has been established at the Directorate-General of Cominière SA (in violation of its statutes), that of simple participation activities in mixed companies through definitive and irrevocable transfers of mining securities, against minority holdings of up to 30% in the share capital of these Joint Ventures and 70% of shares allocated to other partners, although they did not present any financial guarantee.
It is a real sale of the State's mining heritage. The External Partners now have, definitively and irrevocably, more than 90% of Cominière SA's mining heritage.

b. Irrational assignment of mining rights without any prior assessment, but definitively and irrevocably.

Abusive, systematic and irrational transfers of the Congolese State's mining rights were found without any prior assessment, compared to a maximum of 30% of shares in joint ventures. Transfers to which the Directorate-General of Cominière SA justifies by the lack of financial means including state subsidies as well as by the need for their survival. Even if the mining code enshrines the definitive and irrevocable transfer of mining titles in its Chapter II, Articles 182 to 185, the definitive and irrevocable transfers of mining perimeters not preceded by a prior evaluation are acts of sale that cannot be justified by the absence of a state subsidy and even less by the need for survival.

In the absence of means of valuing mining securities before their contribution to joint ventures, a definitive and irrevocable sale with a clause for the redistribution of shares in the event of an evaluation of mining securities may be legally justified, which is not the case of the Direction générale de la Cominière SA, which establishes definitive and irrevocable transfers of unvalued mining perimeters without any precau

c. Policy of transfer of mining titles motivated by survival and not the enrichment of the State. The investigations of the control team have led to a contradictory observation of the absence of economic, financial and social repercussions of this policy of definitive and irrevocable transfers of the State's mining rights on the enrichment of the Congolese State, and that Cominière SA is content to deal with the survival and not the enrichment of the Congolese State, owner of the mineral resources.

d. Assignment of research permits without payment of the transfer price to Cominière SA. The Research Permits are transferred to the partners without payment of the transfer price in favor of Cominière SA, without any reaction from the Director General ai of Cominière SA, despite the fact that the transfer contract clearly provides for the payment of a transfer price.


II.2. ALLOCATION TO EXTERNAL PARTNERS OF JUTEUSES SHARES IN JOINT VENTURES WITHOUT ANY GUARANTEE OF SUBSTANTIAL FINANCIAL CONTRIBUTIONS.
Dathcom Mining SA was initially created in partnership with Dathomir Mining Resources on October 17, 2016. Its fallacious financing promises had earned the latter the allocation of 70% of shares while Cominière SA, which definitively and irrevocably sold mining titles, was content with 30% of the shares. No proof of financing guarantee 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 in addition 5% of the shares of Cominière SA on the grounds that a sister company of Dathomir would have made the Manono-Pweto route without being paid by the Congolese State. Cominière SA kept only 25% of them.
Despite 75% of the shares, partner Dathomir was not able, despite everything, to mobilize expected financing, but preferred, only two months after benefiting from the transfer of 5% of the shares of Cominière SA, to sell 60% of the shares to AVZ International in violation of the provisions of the joint venture contract in its Article 16 (f) relating to its commitments and according to which
It is necessary to clearly note the speculation that has taken up residence in the mining sector, which consists of taking Congolese mining titles for unfulfilled financing promises. Through this operation, Dathomir made huge profits without having disbursed a single round in the partnership concluded with Cominière SA.

 

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05/12/2022 Continued

II.3. SUCCESSIVE TRANSFERS OF THE SHARES OF COMINIERE S.A. IN DATHCOM MINING SA IN VIOLATION OF THE LEGAL PROVISIONS ON THE DISENGAGEMENT OF THE STATE OF COMPANIES IN THE PORTFOLIO.

Law No. 08/008 of 07 July 2008 laying down general provisions relating to the disengagement of the State of the companies in the Portfolio defines in Article 2(b), the company in the State portfolio as any company in which the State or any other legal person governed by public law holds all the share capital or a participation. In view of the above, section 3 of the aforementioned Act subjects disengagement to rigorous prerequisites, including the following:

◗ the evaluation of the assets of the company concerned and the modalities of its valuation;
◗ safeguarding the interests of the State by seeking the most advantageous conditions;
◗ the diversification and profitability of the state portfolio in the short, medium and long term by taking advantage of the opportunities offered by the market.

By proceeding with successive transfers of the shares, the prerequisites for the disengagement of the State were not respected at all. In addition, Article 7 of the aforementioned law provides in particular that the transfer of assets, shares or shares or the transfer of management of a company from the State portfolio is, as the case may be, carried out according to one of the following techniques:

◗ the general or restricted call for tenders;
◗ the use of the OTC market on an exceptional basis, in accordance with section 20 of the same Act;
◗ the transfer to employees or to the public.

All these violations have been authorized by the Ministry of Portfolio.

From a legal point of view, the responsibility for the management of Cominière SA as well as that of the Ministry of Portfolio are engaged.

II.4. ABUSIVE FIXING AND TO THE DETRIMENT OF THE PUBLIC TREASURY OF THE TRANSFER VALUE OF THE 15% OF THE SHARES OF COMINIERE S.A. IN THE CAPITAL OF DATHCOM MINING SA, TO THE BENEFIT OF ZIJIN MINING.

On the grounds of obtaining means of exploitation, Cominière SA again sold 15% of its 25% of its shares in Dathcom Mining to Zijing Mining.

From this transfer, the following irregularities are noted:

a. Encroachment on the prerogatives of the Government's technical body in the choice of independent experts responsible for evaluating the 15% of the shares transferred.

Article 11 of the aforementioned law on disengagement provides that the burden of evaluating assets falls within the competence of independent experts under the responsibility of the Government's technical body, which is Copirep.

Cominière SA, in its planning for the sale of mining assets, has arrogated to the prerogatives of the Government's technical body to choose arbitrarily and in a hurry, two consultants, in this case an association of mining and quarry agents without a tax number and the Alpha Business Company to make the same assessment, while a final feasibility study of the Lithium deposits project was already

b. Market value of the 15% of Cominière SA's shares in Dathcom Mining sold to Zijin Mining.

While the final feasibility study of the Lithium-only deposit project had communicated its results according to which 100% of Dathcom's shares were worth US 1,028,000,000 and that the 15% of Cominière's shares already represented US$ 154,200,000, these (15% of the shares) were sold to Zijing Mining for the derisory amount of US$33,440,000
This sale engages the responsibility of the management of the Cominière and the Ministry of the Portfolio, which had given authorization.

c. Use of US$33,440,000 of the proceeds from the sale of the 15% of the Cominière's shares in Dathcom.

While the fundamental reason put forward for selling these 15% of the shares was the improvement in the operation of the Cominière, there was a total squandering of this amount of US$33,440,000 allocated as follows:

◗ 5% of the price of the transfer, or US$1,672,000.00 paid to Focus Plaidoirie for commissions and fees;
◗ 5% of the price of the transfer, or US$1,672,000 paid to the members of the board of directors for exceptional remuneration;
◗ US$700,000 paid to the two consultants who produced convenience studies on the basis of which the sale of the transfer price of 15% of the shares was carried out;
◗ US$770,662 for remuneration to staff, agents and auditors;
◗ US$1,394,198 from cash supplies for various expenses not audited by the control team. Nothing has been allocated to the operation of Cominière SA until this day when the account is almost empty.

II.5. ILLEGAL TRANSFERS OF MINING SECURITIES BY TRANSFEREES TO THE DETRIMENT OF COMINIERE SA.

The contractual provisions prohibit the disposal of mining securities constituting the contribution of Cominière SA to Dathcom Mining.

The investigations of the control team resulted in a contradictory finding of illegal transfers of the mining titles below:

◗ The PE (Operating Permit) 12436 that Cominière SA transferred on December 7, 2017 to Dathcom Mining for exploitation was transferred by the latter on December 7, 2018 to Hong Kong Yisen which, in turn, transferred it on May 17, 2019 to Hong Kong Excellen Mining Investment Congo Sarl;
◗ The PE 12449 that Cominière SA sold on December 07, 2017 to Dathcom Mining SA was sold on December 07, 2018 by the latter to Hongkong Yisen;
◗ The PE 12450 that Cominière SA sold on June 7, 2017 to Dathcom Mining SA was sold by the latter to Hongkong Excellen Mining Investment Congo Sarl. Having been made in violation of the contractual provisions, these transfers are indeed illegal and to the detriment of the interests of Cominière SA.

Indeed, the transfer of the Research Permits must give rise to the payment of the transfer price in favor of Cominière SA and in addition, their transformation into an Operating Permit must also give rise to the payment of the doorsteps in favor of Cominière SA. The control team has not traced any of these revenues.

III. CONCLUSION.
The General Inspectorate of Finance concludes that the mining assets of Cominière SA are planned sold by its management team with the participation of the Ministry of the Portfolio.
Done at Kinshasa, November 30, 2022.

 

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05/12/2022 Continued

GENERAL INSPECTION OF FINANCE.
At Sodimico, several hundred million US$ are not found. Below, in full, the summary report of the management control mission of Sodimico SA dated September 2022.

This report gives the highlights, conclusions and recommendations resulting from the control of the management of the mining assets of Sodimico SA and other aspects of its operation after the exhaustion of the adversarial procedure.

Sodimico SA, Société de Développement Industriel et Minier du Congo, is a mining company, like Gécamines SA, based in Haut-Katanga, which manages part of the mining assets of the Congolese State.

I. OF THE MANAGEMENT OF MINING ASSETS.
In general, Sodimico S.A as a mining company has not functioned optimally since its creation by Decree No. 131/2002 of 16 October 2002 because of the negative interventions of the public authorities in the management of mining wealth that should serve it for its exploitation and the fact that it finds itself in forced and financially uncarrying partnerships.

I.1. GENERAL FINDINGS.

1. Out of eleven mining deposits available to Sodimico SA, seven have already been sold in partnerships or joint ventures that actually constitute a disguised sale. The remaining four are in amodiation (rental).
To date, Sodimico SA no longer has its own deposit in operation.

2. Transfer free of charge and without consideration, by the Minister of Mines, of the very rich and documented deposits of Lonshi and Lufua to the First Quantum Minerals company (FQM).

The Minister of Mines, by his letter No. 1904/CabMines/FKM/bk/ M/MN/2000 of February 25, 2000, had transferred, without compensation, the documented deposits of Lonshi and Lufua (Frontier) to the company First Quantum Minerals (FQM).

In response to this anomaly, Sodimico SA, which became autonomous in 2002, won over First Quantum Minerals and its subsidiary Comisa at the Lubumbashi Commercial Court (RAC 248).

Subsequently, the Supreme Court of Justice by its Judgment RA 1164 of May 14, 2010 granted him the right to payment by First Quantum of damages of US$57,325,455 for the free exploitation of the deposits and annulled the aforementioned letter from the Minister of Mines by returning the mining titles on the Lonshi and Lufua (Border) fields. By this decision, Sodimico SA recovered its deposits but First Quantum did not pay the damages demanded by the Congolese Justice.

In the meantime, Sodimico SA joined a partnership imposed by the Government of the Republic with Fortune Ahead Limited and created, by bringing in its deposits, the Sodifor joint venture.

3. Fixing in an arbitrary manner and without objective basis by the Minister of Mines of the doorstep amount of US$30,000,000 in the Sodifor joint venture.

4. Diversion by the Government of the doorsteps returning to Sodimico SA at the tune of US$14,600,000 in 2011. The doorsteps arbitrarily set at US$30,000,000 were to be distributed equally between the Government of the Republic and Sodimico SA. The entire amount was transferred to the Government's account, which only gave back US $400,000 to Sodimico SA.

5. Irrevocably sale of Sodimico SA's shares in Sodifor without valuation and without valid reason Following Sodimico SA's statements on March 28, 2011, by a contract imposed by the Minister of Mines, Sodimico SA was forced to sell its shares held in the Sodifor joint venture to Fortune's subsidiaries (Sandro Resources Limited and Garetto Holdings Limited) at US. The responsibility of the current management is engaged for having signed the deed of transfer.

6. Dilapidation of US$30,000,000 of the proceeds from the sale of Sodimico SA's shares in Sodifor. The amount of US$30,000,000 from the sale of the shares was paid into the Government's account, which returned only US$20,000,000 to Sodimico SA. In addition, of the US$20,000,000 received by Sodimico SA, the Government again recovered the sum of US$10,000,000 for contribution to the elections.

The remaining US$10,000,000 has been allocated by Sodimico SA to the following expenses:

◗ US$3,000,000: loan to SCIM (already repaid);
◗ USD $1,500,000: lawyer's fee payment;
◗ 44.041 US: bank charges;
◗ $5,455,959 was used for the needs of Sodimico SA.

The amount of US$20,000,000 recovered by the Government is to be traced back to the General Account of the Treasury for assurance of the proper use of these funds.

7. Of the distribution of US$3,280,000,000, acquisition price of the deposits by Eurasian Natural Resources Corporation (ENRC). The First Quantum company, which had been convicted by the Congolese justice system, brought the dispute before the International Centre for the Settlement of Investment Disputes (CIRDI) in Washington, questioning the fact that Sodimico SA recovered its mining assets previously transferred to it free of charge by the Minister of Mines in 2000.
Faced with this situation, the Congolese Government reached an amicable arrangement on February 20, 2012 with the company First Quantum. This arrangement was signed, for the Congolese side, by the Minister of Mines, the Minister of Justice, the Minister of Portfolio, the Deputy Minister of Finance, the Director General of Gécamines SA, the President of the Board of Directors of Gécamines S.A, the Managing Director of Sodimico SA, the President of the Board of Directors of Sodimico SA and the Director

At the end of this arrangement, a new purchaser of the dispute deposits, in this case Eurasian Natural Resources Corporation (ENRC), was found and was to disinterest the parties in the conflict for a total amount of US$3,280,000,000.
Unfortunately, this amount of US$3,280,000,000 was distributed as follows:

◗ US$1,250,000,000 for the benefit of First Quantum, which had not contributed anything and did not even pay the damage related to the exploitation of the deposits that were made available to it free of charge;

◗ US$1,250,000,000 for the benefit of Fortune (Sandro Resources Limited and Garetto Holdings Limited) which had paid only US$60,000,000 to acquire these deposits;
◗ US$780 million planned for the Congolese side. This amount, although paid, has never been traced either in the General Account of the Treasury or in that of Sodimico SA. It should be noted that the purchaser of these deposits, after an amicable arrangement, has already, in turn, sold these mines to another mining operator.

8. Signing of several partnership contracts with no impact on the development of Sodimico SA and the Congolese State.

8.1. The choice of partners has often been imposed by the hierarchy, therefore not resulting from any call for tenders, contrary to what is provided for in Articles 33 and 33 bis of the Mining Code.

8.2. The contributions of the partners are not evaluated so that the fixing of the shares is arbitrary and always unfavourable to Sodimico SA, which contributed most of the case, namely, the mining deposits. This fact conflicts with the provisions of Article 182 paragraph 4 of the Mining Code and Articles 49, 50, 312 and 400 of the Uniform Act on the Law of Commercial Companies and the Economic Interest Grouping (AUSCGIE).

8.3. Sodimico SA's participation in all the partnerships concluded is significantly reduced and varies between 20 and 30% of the capital while it has always contributed most of the business.

8.4. Low fulfillment of the obligations of the social and environmental specifications provided for in the Joint Ventures (Articles 196, paragraph 1 and litera c and 258 bis of the Mining Code) and legal investments (Article 197 paragraphs 5 and 7 of the Mining Code).

8.5. Lack of control on the part of Sodimico SA of the parameters of evaluation or valuation of production as well as the prices charged in all partnerships (Joint-ventures).

8.6. The non-application by Sodimico S.A of the resolution clause of the Mining Code, which should allow it to recover its mining titles and the automatic termination of contracts, in particular in cases of non-payment of taxes due to the State, non-compliance with Laws and Regulations that may result in administrative or financial consequences detrimental to Sodimico SA as well as non-compliance with maintenance

I.2. SPECIFIC FINDINGS ON SODIMICO SA'S MINING CONTRACTS.

1.2.1 Contract for the creation of the Musoshi & Kisenda Sarl Mining Limited Liability Company (MMK).

1. On March 29, 2003, Sodimico SA created a company in partnership with 6 companies of the Forrest Group for the exploitation of the mines and quarries of Musoshi and Kisenda (MMK) with the statutory capital: 250,000 CDF.

2. No doorstep was paid by the Forrest Group and no royalties were provided for in the contract for the consumption of mines.

3. The contributions of the Forrest Group set out in the company's statutes, consisting of the financing necessary for the harmonious development of the company, are neither defined nor evaluated while Sodimico SA has made the concessions of Musoshi, Kisenda and Lubembe including the exclusive research areas around these perimeters, as well as the tax exemptions recognized to it and those conferred by Not all contributions from the contracting parties have been evaluated.

4. The share of Sodimico SA that contributed most of the "business" is set at 20% and that of the Forrest Group at 80% without any objective explanation.

5. Following the review of the mining contracts, in 2009, the Government notified the conclusions concerning MMK, that Sodimico S.A. should recover the Musoshi Mine and its infrastructure without any compensation by the Forrest Group.

6. After the revisitation, the doorstep that was to be calculated on the basis of the wealth of the deposit was estimated at US$90,000,000 but the Government, through the Prime Minister, fixed it at US$3,000,000 and the Minister of Mines requested that the 50% share of the doorsteps going to the Public Treasury be paid into accounts No. 02000099715-80 and US$200000997

7. Sale on the stock exchange, by the Forrest Group of its 75% of 80% of the shares held in MMK and obtained free of charge without the knowledge of Sodimico S.A, for the benefit of Metorex and CRC for an amount of around US$100,000,000 thus violating the contractual right of pre-emption.

8. No documentation provides information on the dissolution of this MMK Joint Venture, while the name of the company and its parties to the contract have changed (MMK will become KICC without respecting the relevant procedure).
1.2.2. Kisenda Copper Company (KICC) joint venture contract.

1. In 2009, Kisenda Copper Company (KICC) was created, combining Sodimico S.A. on the one hand, and partners Copper Resources Corporation (PTY) Ltd (CRC) and Metorex Limited on the other, with a share capital of US$1,250,000.

2. This Joint Venture is created on the ashes of MMK and takes over the partners who bought, on the stock exchange, the shares of the Forrest Group without Sodimico SA being consulted or informed as a partner. The management of Sodimico SA maintains that the creation of KICC was decided at the Government level before being formalized by itself.

3. In this Joint Venture, the distribution of shares gives 23% to Sodimico S.A. and 77% to partners without any objective evaluation.

4. Sodimico S.A. brought the mining rights on the perimeter PE 201 and PE 12548, the Kisenda Research Permit PR 4724 and the Lubembe PE 330 Operating Permit as well as all the movable and immovable property and infrastructure on the perimeters of the operating permits evaluated without basement at $287,500, which earned it the allocation of 23% of the capital. The cash contributions of CRC and Metorex are US$901,875 and US$60,625 respectively, for a total of US$962,500, which earned them the allocation of 77% of the capital.
It is clear that this distribution of capital, which has consequences on the distribution of future dividends, is against Sodimico S.A and the Congolese State.

5. Regarding the payment of royalties, special agreements between Sodimico S.A and KICC have established a system according to which advances on royalties can be granted to Sodimico S.A, even if it means recovering them gradually (by partial compensation) with the rights actually due. The mission noted the absence of minutes of conciliation of accounts that consolidate periodic evaluations.

6. Finding of a legal dispute between Sodimico S.A and United Petroleum, which claims 5 shares of the capital on the basis of a judgment assigning these shares to it in compensation for its debt held in Sodimico SA.

Indeed, it should be noted that initially, Sodimico S.A. was liable for a commercial debt (in respect of year-end food, obtained on credit for its workers) vis-à-vis the Hyper Psaro Company.

After capitalization at US$2,033,111 in principal and US$900,000 in damages by a transactional agreement, this claim was sold to United Petroleum, which clearly prefers, instead of any monetary payment, to enter the capital of KICC by seizing, through the courts, five shares in the shares of Sodimico SA. For Sodimico S.A., the commercial debt due to United Petroleum must be paid instead of giving it 5% of its already reduced shares in the partnership. This position was not supported by the Government. It should be noted that the taking of the five shares of Sodimico SA stems from a court decision.

To safeguard the interests of the State, the Minister of Portfolio, in her letter No. 10611/MINPF/JDC/LMM/2013 of July 31, 2013, asked KICC to pay Hyper Psaro's debt instead of the seizure of the shares of Sodimico S.A., an approach that United Petroleum disputes.

1.2.3 Partnership agreement with Shining Mining Ccompany Ltd of January 06, 2018 (SEM).

1. The capital of this Joint Venture is set at USD 300,000, including 30%, or US$90,000 for Sodimico S.A and 70%, or US$20,000 for Shining Mining Company Ltd.

2. The absence of a stable reference for fixing the paid doorstep of US$21,000,000. Although negotiated, in the presence of representatives of the Ministry of Mines, the assessment of the doorstep to pay covered half of Musoshi's total mining reserves estimated by Sodimico S.A. at ± 1,440,000 tons of copper without convincing documentation.

This is why partner Shining preferred to postpone the final fixing of this doorstep, by checking the exact height of the mining reserves, using new field assessment technologies.

3. Failure to comply with the granting of a contractual loan of US$3,000,000 that was to be granted by Shining Mining Ccompany Ltd to Sodimico S.A. to allow it to start a production activity likely to reduce its financial vulnerability (Article 5.2.g).

4. The instruction given by Sodimico SA to Shining Mining Ccompany Ltd to pay directly (on the doorstep) a lawyer's expense and fees note, dated March 21, 2018, in the amount of US$2,220,000. The mission received proof of payment of US$2,000,000. The amount of VAT of US$360,000 to the Public Treasury has not been returned.

5. Lack of information on the level of implementation of the final investment decision. Indeed, Article 8 of the Contract provides for a proposal for an estimate of the Project Development costs, including (social) infrastructure projects, and the amounts that will be raised through loans to third parties and that the parties will have to guarantee.

6. Part of the doorstep paid by Shining, about US$4,000,000 allowed Sodimico S.A. to order equipment to operate its factory. Some have already been delivered to Kasumbalesa and some others to suppliers for more than three years.
In the absence of additional prices and purchase costs, the risk of losing these materials is high and therefore, that of the funds already paid.

1.2.4. Contract with White Waterfall, LLC of December 14, 2020 (Simaks).

1. Non-presentation to the Mission of the Evaluation Report drawn up by the Kimono deposit contribution commissioners (PE 102) and which should be attached to the statutes of the Société d'Investissement Minier Akon et Sodimico S.A (Simaks SA).

2. Lack of precision on the part of Operating Permit 102 considered "undocumented" by the partner.

3. Allocation to the Simaks company of 20 PE 102 mining squares of 55 mining squares containing the former Kimono deposit whose reserves are declared exhausted.

It should therefore be noted that this company was incorporated with a modest share capital of US$20,000, represented by 1,000 shares worth US$20.

4. Lack of plausible reference for fixing the doorstep to US$2,000,000 to be paid by White Waterfall, LLC.

5. Inexplicable conferment, to the White Waterfall Company, of the monopoly on the sale of copper cathodes to be produced by Sodimico S.A through the contract of September 23, 2020.

6. Lack of reaction in the head of management of Sodimico S.A. to the inactivity of White Waterfall, LLC.

1.2.5 Contract of July 9, 2010 in joint venture with the Katanga Mining Company (Somika) for the creation of the Katanga Mining and Industrial Development Company (Sodimika).

1. By the will of Somika and acceptance of Sodimico SA, a transfer of shares of Somika in Sodimika was made to its subsidiary Southern Ressources Sarl by the Deed of Transfer of February 28, 2013.

At the end of an extraordinary General Meeting held on December 11, 2013, the shareholders decided to harmonize the statutes of Sodimika, the structure of which is as follows: Share capital: US$3,000,000, including 30% for Sodimico SA and 70% for Southern Ressources Sarl.

2. The contract for the sale of mining securities of February 7, 2018 between Sodimika and Sodimico S.A deliberately introduces confusion between Somika and Southern Ressources Sarl, its subsidiary, when they are two distinct companies, irrevocably consecrating the exit of Somika from the Sodimika joint venture.

1.2.6 Contract with Long Fei Mining Sarl on February 1, 2010.

1. Arbitrary in the fixing of doorsteps on Operating Permit 271. Indeed, the doorstep was stopped respectively at US$100,000 for Long Fei Mining in 2010 and at US$1,500 at Somika in 2021 for the same mining asset. The management of Sodimico S.A. specified that it was at the end of the work to revisit mining contracts that the Government had set the doorstep relating to mining contracts, in particular Long Fei.

2. Non-declension of the calculation basis used to determine the amodiation rent of US$50,000 per month for the 20 mining squares rented in Long Fei and US$20,000 per month for the 16 mining squares at Somika for mining assets of the same geographical environment. The contract concerns copper and cobalt contained for Somika but only copper for Long Fei. The rent for amodiation should not go from double to simple for the same mining asset, which foresees a managerial weakness in the conclusion of contracts.

II. OF THE ADMINISTRATIVE AND FINANCIAL MANAGEMENT OF SODIMICO SA.
II.1. Signing of a contract with Godwin Trading Investment Sarl on July 27, 2020 which allowed this company to obtain gravel used and invoiced for the repair of the Sakania road but refuses to pay the balance of the contract amount on the grounds that the gravel was of poor quality. Despite its complaints, this company still occupies the operating sites of Sodimico SA.

L'IGF lâche deux nouvelles bombes | Le Soft international

www.lesoftonline.net

 

[MoneyBags1348]

09/12/2022

Lithium Manono: Alingete denounces a media campaign by "financial criminals" to cover up the embezzlement and sell-off of Cominiere shares in Zijin and MMCS

"The problem of La Cominiere is a group of incorrigible financial delinquents"

NEWSECONOMY
December 9, 2022
Kiki Kienge

“From 154 million $US, his incorrigible offenders have sold 33.4 million $US (…) they have diverted them even from the coffers of the State. »
The Manono lithium affair in Tanganyika has become TV news for many Congolese media and journalists, who have read their articles and investigations well, confuse the Cominiere conflict, the Congolese state and the Chinese group Zijin with society. AVZ Minerals which has nothing to do with the sale of 15% and 5% of Congolese state assets.

As a reminder, AVZ bought its 15% from the Dathomir group of the Chinese Simon Cong to have its current 75%, the report of the IGF (Inspection Générale des Finances) speaks of the embezzlement of US$116 million on the sale of the 15% of the Cominiere to the Chinese group, Zijin and 5% given at US$0 to MMCS.

This media amalgamation is not out of unconsciousness or ignorance of the case by its media and journalists, but a dark financial hand is hiding behind this campaign in order to create confusion in the Cominiere affair.

In short, the Congolese state lost $116 million in the sale with the endorsement and blessing of the portfolio ministry, as these documents show below, of the 15% of Cominiere to the Chinese of Zijin and 5% to $0 to MMCS.

Zijin acknowledged the scheming and asked to reimburse without compensation, they even offered to leave Dathcom for another site, since they were aware of their fraud in the "purchase" of 15% of the Congolese State.

$AVZ has nothing to do with this fraud.

The IGF report speaks of Cominiere, Zijin and the portfolio ministry and not of AVZ Minerals, which is waiting for its exploitation permit to be blocked by the CEO of CAMI for some unknown reason.

Here is the message of the head of the IGF, Alingete translated into French by our editorial staff:

“It is necessary that you understand that we of the General Inspectorate of Finance (IGF), if we give you a report and that we publish it, you must believe since we are agents of the truth.

The problem of La Cominiere is a group of incorrigible financial offenders, while the head of state asks them to align themselves with the vision of good governance to give Congo a chance. Give the chance to the Congolese men and women so that tomorrow they can live in good conditions, this group of incorrigible financial delinquents open their eyes but do not want to see, they pull their ears like people who listen, but do not listen. Because in their hearts they always have plans to strike (embezzlement) against public finances.
The problem of the Cominiere is that its incorrigible financial offenders have created a (mafia) group.

Know that lithium deposits, lithium is used for the manufacture of electric batteries, a deposit of the future.

They (the incorrigible financial offenders got together and sold the assets of the Congolese State in La Cominiere. Its assets were worth US$154 million, its incorrigible offenders sold it for US$33.4 million.

When people like that sell assets worth 154 million to 33.4 million, it means they have their stake in it. In addition to the US$33 million, instead of being used for the development of La Cominiere, they even diverted them from the state coffers.

Now if the inspectors discover their scheming and give them a public show, they begin to send their puppets (journalists and media), members of their families, their room boys to entertain on the television channels.

We must not follow them, we must only remember that they sold the assets of the Congolese State which had a value of 154 million $US to 33.4 million $US.

They sold those assets on September 21, 2021, only a year ago. Everyone can go see September 21, 2021 who was there and sold.
They speak, but do not know that Justice has already arrested those responsible for the Cominiere, while they are the intellectual and main authors that the others pay in prison.

You have to believe them, because it's the bone that gets stuck in their throat (…) they are real incorrigible financial bandits, we won't get tired, we won't let them go.

That's our job, the President of the Republic gave us this mission. »
“We have tried to remain faithful in the translation from Lingala into French to the message of Jules Alingete, any error of interpretation (if he would have) is voluntary and please accept our apologies in advance. » The editorial staff of KongoPress.

Lithium Manono : Alingete dénonce une campagne médiatique des "délinquants financiers" pour camoufler le détournement et bradages des parts de la Cominiere à Zijin et MMCS - Kongo Presse

Par Kiki Kienge « De 154 millions $US, ses délinquants incorrigibles ont vendu à 33.4 millions $US (…) ils les ont détournés même des caisses de l’État. » L’affaire du lithium…

kongopress.com

IGF REPORT
9 PAGES IN ENGLISH

https://static1.squarespace.com/sta...f+DRC+Mining+Assets+by+COMINIERE+SA+-+ENG.pdf

DRC General Inspectorate of Finance’s findings against Cominiere and Dathomir

AVZ Minerals Limited (ASX: AVZ) (AVZ or Company) notes that on 30 November 2022, the Democratic Republic of Congo’s (DRC) General Inspectorate of Finance released its report on the management of mining assets in the DRC by La Congolaise d’Exploitation Minière (Cominière) (IGF Report). A copy of the IGF Report is publicly available via https://igf.gouv.cd/rapports.

An English translation of the IGF report is published on AVZ’s website.

The DRC General Inspectorate of Finance had been authorised to investigate the following matters:

• whether Cominière’s purported sale of its 15% interest in the issued shares Dathcom Mining SA (Dathcom) to Jin Cheng Mining (Jin Cheng Sale) was proper and appropriate;

• any liability in connection with the Jin Cheng Sale;

• the legality of Cominière’s and Dathomir’s other recent conduct.
By way of summary, the IGF Report includes the following conclusions reached by the DRC General Inspectorate of Finance:

• Cominière has acted in violation of its articles of association in respect of its transfers of mining titles to “external partners” without obtaining financial guarantees;

• Cominière has acted contrary to the DRC Mining Code in respect of its transfers of mining licences without such transfer having undergone the required prior assessment by a competent DRC governmental authority;

• the Jin Cheng Sale was subject to a number of irregularities including the failure to select the Government’s technical body for the valuation of the 15% interest the subject of the Jin Cheng Sale, and the failure to consider the definitive feasibility study valuation completed in respect of the Manono Project;

• Cominière had inappropriately allocated ~USD6,800,000 out of the total USD33,440,000 in proceeds from the purported Jin Cheng Sale for operating needs (including for commissions, fees and exceptional remunerations of all those who would have otherwise contributed to the operation) to the detriment of productive investments;

ASX ANNOUNCEMENT
6 December 2022
AVZ Minerals Limited
Level 2, 1 Walker Street West Perth, WA 6005 Australia
T: + 61 8 6117 9397 F: +61861182106 E: admin@avzminerals.com.au W: www.avzminerals.com.au
ABN 81 125 176 703

Directors
Non-Executive Chairman: John Clarke Managing Director: Nigel Ferguson Technical Director: Graeme Johnston Non-Executive Director: Rhett Brans
ASX Code: AVZ OTC Code : AZZVF

• Dathomir failed to comply with its obligations under the incorporated joint venture agreement in respect of Dathcom Mining SA (Dathcom) dated 27 January 2017, as amended from time to time (Dathcom JVA); and

• Dathcom allegedly transferred mining exploration permits 12436, 12449 and 12450 illegally to third parties.
In response to the findings of the DRC General Inspectorate of Finance, AVZ confirms:

• AVZ acquired valid and legal title to the 60% of shares issued in Dathcom, including, for the avoidance of doubt, as a consequence of the waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement;

• following AVZ’s acquisition of its initial 60% of shares issued in Dathcom, AVZ performed the funding obligations under the Dathcom JVA; and

• neither it nor any of its representatives had any involvement in, nor any prior knowledge of, the transfers of mining exploration permits 12436, 12449 and/or 12450 to any third party.

AVZ further confirms that it is continuing to cooperate with all competent DRC governmental authorities regarding the findings within the IGF Report.

This announcement was authorised for release by the board of directors of AVZ Minerals Limited. For further information, visit www.avzminerals.com.au or contact:

Mr. Jan de Jager or Mr. Ben Cohen
Joint Company Secretary
AVZ Minerals Limited
Phone: +61 8 6117 9397
Email: admin@avzminerals.com.au
Media Enquiries:
Mr. Peter Harris
Peter Harris & Associates Phone: +61 (0) 412 124 833

 

[Dazmac66]

18/04/2023
Frank Posted

Mining sector: imminent establishment of the General Inspectorate of Mines in the DRC to fight against mining fraud and smuggling

During its 94ᵉ meeting, the Council of Ministers adopted the draft decree on the organization and operation of a public service called the "General Inspectorate of Mines" (IGM).

This proposal was made by the Minister of Mines, Antoinette N'samba Kalambayi.

This service will be responsible for combating mining fraud and smuggling in all their forms; to design, implement and monitor the execution of practical measures of collaboration in the field between the public services and organizations having in their attributions the fight against fraud and smuggling in the Mining sector.

The IGM will be endowed with administrative and financial autonomy and will be placed under the authority of the minister in charge of mines.

This public service therefore intends to strengthen the synergy between the State services authorized in the mechanisms for combating mining fraud and smuggling, controlling and ensuring the traceability of mining products from the exploitation site to the point of export.

“For the government, it is a matter of dedicating the necessary efforts and resources to enable the mining sector to play its true role as a lever for socio-economic development of the country,” the minutes of the Council of Ministers consider.

The Democratic Republic of Congo has enormous potential in the mining sector.

However, it has been shown that there are illicit practices that cost the Congolese state thousands of US dollars.

The Congolese economy is much more supported by mining activities.

I reckon fine Sir Jules Alingette Key could handle both the Finance and Mines general inspectorates standing on his head!!

 

[MoneyBags1348]

08/04/2023

17/04/2023
Cruiser Posted

Lithium DRC: DATHCOM/AVZ Minerals in court (ICC) against COMINIERE for their rights to the sale of the 15% to ZIJIN​

April 17, 2023
Kiki Kienge

By Kiki Kienge
It should be specified above all that it is not for the moment the Congolese State which is brought before Justice by DATHCOM and AVZ Minerals, but the COMINIERE company and its management. In particular that it still has nothing to do with the withdrawal of DATHCOM's operating permit by the DR Congo's ministry of mines, on which Minister Antoinette Kalabayi based her decision-making.

As a reminder, COMINIERE had sold 15% of its shares to the Chinese group, ZIJIN at 33.4400.000 $US, when the real value was 150 million $US according to the report of the Presidency of the Congolese Republic through the General Inspectorate of Finance (IGF).

COMINIERE through its interim Managing Director, Célestin Kibeya claims that his company had informed AVZ Minerals, which owns the pre-emptive rights, by letter and that the latter would have offered only US$15 million for the 15%. But AVZ in a document, demonstrates a subsequent proposal of more or less US$150 million and COMINIERE's participation in the international stock market.

In particular, COMINIERE sold, defying any joint venture agreement, three DATHCOM mining permits, a company under Chinese rights and one of its subsidiaries in the DR Congo, including the current Minister of State, Minister of Territorial Development, Guy Loando Mboyo holds 10% of the shares:

• The PE (Exploitation Permit) 12436 that COMINIERE SA transferred on
  07/12/2017 to DATHCOM Mining for exploitation was transferred by the
  latter on 07/12/2018 to HONGKONG YISEN which, in turn, transferred it on
  05/17/2019 at HONGKONG EXCELLEN MINING INVESTMENT
  CONGO SARL.
• PE 12449 that COMINIERE SA sold on 07/12/2017 to DATHCOM
  Mining SA was sold on 07/12/2018 by the latter to HONGKONG
  YISEN.
• PE 12450 that COMINIERE SA sold on 07/06/2017 to DATHCOM
  Mining SA was sold by the latter to HONGKONG EXCELLEN
  MINING INVESTMENT CONGO SARL.

Read the link on this file at the end of the article.

It should be noted that this is even more likely to delay the start of lithium exploitation in Manono, for which the population of Tanganyika is impatiently waiting for the relaunch of their development.

To the government of the DR Congo and if not the direct involvement of the Head of State, Félix Tshisekedi in this file to resolve this situation, the first victim of which will only be the Congolese population in general and that of Tanganyika in particular.

MINERALS LIMITED PRESS RELEASE

Continuation of the legal action to affirm the interests in the Manono project Start of the Cominière arbitration procedure.
AVZ Minerals Limited (ASX: AVZ, OTC: AZZVF) (AVZ or the Company) announces that the Company, through its subsidiaries, and Dathcom Mining SA (Dathcom) have formally commenced arbitration proceedings before the International Court of Arbitration of the International Chamber of Commerce (“ICC”) against La Société Congolaise d'Exploitation Miniere d'Exploitation Miniere (RCCM 14-B-5938) (Cominière) (Cominière Arbitration Proceedings).

The primary purpose of Cominière's arbitration proceedings is to seek various remedies for instances of Cominière's breach of its obligations under the joint venture dated January 27, 2017, as amended from time to time (Dathcom JVA) including statements purporting to confirm Cominière's purported termination of the Dathcom JVA and its purported transfer of part of its interest in Dathcom in violation of the Dathcom JVA, are all null and void.

Cominiere attempted to terminate the Dathcom joint venture without cause and in a manner contrary to its express terms. The Company considers that the conduct of Cominiere is illegal and the Company, in collaboration with Dathcom, will take all necessary measures for the necessary actions to protect the interests of its stakeholders, in particular the people of the Democratic Republic of Congo (DRC).

Cominière holds 25% of the share capital of Dathcom. AVZ confirms that it retains legal title to a 75% interest in the Manono project and pre-emption rights greater than 15% on Cominière's 25% interest in the project (noting that Cominière must sell the 10% balances of its 25% interest in the Project to the Government of the DRC as a condition of the award of the mining license). The shareholders of Dathcom (namely Cominière and AVZ, through a subsidiary) are parties to the Dathcom joint venture, and as such, benefit from a preferential right on the proposed sale of shares in Dathcom to third parties. Under the laws of the DRC, a transfer of shares made in violation of such a right of first refusal is null and void.

 

[MoneyBags1348]

18/04/2023
Frank Posted

Mining sector: imminent establishment of the General Inspectorate of Mines in the DRC to fight against mining fraud and smuggling

During its 94ᵉ meeting, the Council of Ministers adopted the draft decree on the organization and operation of a public service called the "General Inspectorate of Mines" (IGM).

This proposal was made by the Minister of Mines, Antoinette N'samba Kalambayi.

This service will be responsible for combating mining fraud and smuggling in all their forms; to design, implement and monitor the execution of practical measures of collaboration in the field between the public services and organizations having in their attributions the fight against fraud and smuggling in the Mining sector.

The IGM will be endowed with administrative and financial autonomy and will be placed under the authority of the minister in charge of mines.

This public service therefore intends to strengthen the synergy between the State services authorized in the mechanisms for combating mining fraud and smuggling, controlling and ensuring the traceability of mining products from the exploitation site to the point of export.

“For the government, it is a matter of dedicating the necessary efforts and resources to enable the mining sector to play its true role as a lever for socio-economic development of the country,” the minutes of the Council of Ministers consider.

The Democratic Republic of Congo has enormous potential in the mining sector.

However, it has been shown that there are illicit practices that cost the Congolese state thousands of US dollars.

The Congolese economy is much more supported by mining activities.


18/04/2023
9Card Posted

Cominiere's termination of JVA is the key here (it is only the agreement, i jumped the gun yesterday thinking it was the entire JV).

The response by AVZ and disclosure stems from the December 2022 Cominiere letter which details AVZ's alleged breach of agreement from Cominiere view (previously posted on TSE).

Currently, I have confirmation that there is a set of correspondence out there whereby:

1. Cominiere writes to AVZ stating we 'need to talk' or 'show us X/Y' according to the December letter (this is part of the resolution of disputes article in the JVA). Cominiere would have also provided a 60-90 day timeframe for AVZ to respond.

2. AVZ submitted its response to Cominere and I believe there was a meeting held, based on my source.

3. Cominiere deliberated on the contents of the meeting and finally sent another letter to AVZ stating that it was 'unhappy' with the response and enacted the termination clause of the JVA.

4. AVZ, in its right according to the JVA then instigated the ICC case against Cominiere to void this termination because we've fucking done everything by the book.
One thing i confirmed is that Cominiere does not have the authority to just terminate the JVA, so 3 would be considered a raise. In order to terminate the JVA Cominiere needs to officially submit its request to governing bodies (MOP/MOM) they need to approve and the decision needs to be ratified at local DRC court before anything official occurs.

 

[MoneyBags1348]

 

[MoneyBags1348]

08/05/2023
JAG Posted

Xerox Added

 

[MoneyBags1348]

05/08/2023
Sam Posted

Click to expand...

 

[MoneyBags1348]

This is Michel Nelkin KITWA MULOPWE, Cominiere’s Executive Secretary who has links to Tantalex as well as supposedly being a Professor of Accounting and Other Courses including Import Smuggling and Exporting and Petty Cash Finance

 

[MoneyBags1348]

31/07/2023

Lithium: the COMINIERE and the Congolese State paid US$1.6 million for the lobbying of Lisette Tshibwabwa Kabanga

"Lisette Kabanga Tshibwabwa justified in particular the legality of lobbying in Congo"
NEWSECONOMY

Lithium: the COMINIERE and the Congolese State paid US$1.6 million for the lobbying of Lisette Tshibwabwa Kabanga​

July 31, 2023
Kiki Kienge

Lithium the ore of the century, that of eclectic batteries that the whole world is struggling to regain possession of, lithium is a strategic metal for the energy transition, even saying it for the future of our planet, it is also a metal considered critical following the great risk of its supply by its scarcity.

But now, in DR Congo following the politicization of the file, the Manono lithium project in Tanganyika, which should make DR Congo one of the giants in the world and the main player in the energy transition, in particular to return the letters of nobility to the country of Lumumba in the global mining sector, is almost at a stop.

The Minister of Mines of Congo, Antoinette N'Samba Kalambayi by an order signed on January 28, 2023, had suspended the Operating Permit (PE13359) of the joint venture DATCOM granted in April 2022 after the feasibility study of the Australians of AVZ MINERALS 75% partner in DATHCOM, following the accusations of the COMINIERE state company and hastily in DA

COMINIERE had accused AVZ MINERALS of having taken the project and the joint venture, DATHCOM hostage in that it conducted the research and management of the joint venture without associating it from beginning to end, in particular of not having actually carried out research.
"The revelations come from a very serious Australian newspaper, which says that it would have US$six million, which should be paid to a Congolese intermediary, I don't know if it's Mr. Marius Mihigo," said the acting director general of the COMINIERE, Célestin Kibeya accusing the lobbying and mediation of Mr. Marius Mihigo

In fact, AVZ MINERALS had used Marius Mihigo for intermediation (lobbying) in DR Congo, to promote the image of society and facilitate contacts with administrations and decision-making authorities of Manono's lithium file, a legal and legalized work, particularly recognized in DR Congo and around the world.

Namely that Mr. Mihigo and his company are not paid by the Congolese State, nor with the Congolese taxpayer's money, but by private funds of the company, AVZ MINERALS, therefore free for Australians to choose who and how should work for him and will only have to report to its shareholders.

But here, the same state society accusing the intermediation of Marius Mihigo, the COMINIERE had used Mrs. Lisette Kabanga Tshibwabwa, then head of the office of the security advisor to President Félix Tshisekedi, Mr Jean-Claude Bukasa, in particular member and Deputy National Secretary UDPS in relation to the socialist international and the progressive alliances
For "presenting" the ChinoisZIJIN group to the COMINIERE and the Congolese State through the Ministries of Mines and the Portfolio, (presented in doubt, since the latter were already in contact with ZIJIN's Chinese in other projects).

Mrs. Lisette Kabanga Tshibwabwa and her company Focus plaidoirie created in 2020, received a retrocommission of US$1,600,000 simply for their lobbying in the sale, or the sale according to the IGF (Inspection Générale des Finances) of the 15% of COMINIERE's shares in DATHCOM, at a derisory sum of US$33

Mrs. Lisette Kabanga Tshibwabwa contacted on this 15% sales file, had recognized her work of intermediation between the Chinese of ZIJIN and the COMINIERE, her fee of US$1,600,000, in particular to justify the legality of lobbying or prohibition in Rd Congo.

Because then, why does the same COMINIERE through its director, Céléstin Kibeya and some advisers to the Head of State, Félix Tshisekedi criticize and consider the same intermediation work of Mr. Marius Mihigo for a private group, which is AVZ MINERALS?

Lithium : la COMINIERE et l’État Congolais ont payé 1.6 millions $US pour le lobbying de Lisette Tshibwabwa Kabanga - Kongo Presse

Madame Lisette Kabanga Tshibwabwa et sa société Focus plaidoirie créé en 2020, ont reçu une rétrocommission de 1.600.000 $US simplement pour leur lobbying dans la vente, ou le bradage selon l'IGF (Inspection Générale des Finances) des 15% des parts de la COMINIERE dans DATHCOM, à une somme...

kongopress.com

 

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23/08/2023
Carlos Posted

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