Corruption

[MoneyBags1348]

17/03/2023
Carlos Replied

Here is the video of Christian Lukusa's interview. The document is shown at 20:18. I'm only basing my assumption that the money was paid into Dathomir's bank account and then reversed off this bank statement made public in an interview with AVZ's lawyer.

The name of the account being Dathomir and the amount in question being 20m USD that is labelled 'AVZ reversal' on August 27th 2021 corresponding to the redacted deposit early that month is pretty conclusive. This is the exact time that AVZ claim to have completed the transactions in official announcements.

It's likely AVZ initially paid into an escrow account and that the money was returned there by Dathomir where it still sits. I wasn't aware of there being an escrow account and it's trivial to the overall point. AVZ paid Cong how and when he stipulated in the agreements. That's why AVZ now claim good legal title to 75% ownership. Cong can cry all he wants but it's obvious that he just wants more money because the lithium price went up after he sold.

 

[MoneyBags1348]

18/03/2023
Carlos Posted
The money was paid directly into Dathomir's bank account between the 16th and the 25th of August 2021. I'd imagine the escrow is being held by AVZ's lawyers or an independent third party lawyer and they were the ones that transferred it to Dathomir. Probs why that transaction was redacted in the interview with Christian Lukusa.

Dathomir returning the money to the account it came from is in itself acknowledgment of receiving the payment. I doubt it was Cong that organised the transfer to himself less than one month before the 12 month deadline for the second 10% agreement only to send it back around a week later. If he did he is even more cooked than I thought. More likely this was the final step of the contract obligation and Cong sent it back because he realised this meant the deal was complete imo

Cong's main argument is that he cancelled the agreements in May 2021 before he received the money. AVZ's argument is that we completed the transactions within the time frame by paying Dathomir into their nominated account. I'm not sure if that is the escrow or the bank account but I reckon we would have seen the escrow bank statement rather than Dathomir's bank statement in the video if that was how it was meant to be paid.

The next documents shown in the interview video appear to be the contract for the 10% deal signed by Cong and the notary deed confirming this transaction is 'the expression of Dathomir's will'. The notary deed is crucial in contact law as it leaves no doubt that the party intended to be bound by the contract.

The contract itself doesn't specify an account to be paid in the part that is shown but it confirms that the agreement was signed on September 16th 2020 and that the transfer of the 10% of Dathcom to AVZ will be done on the 'date of execution'. AVZ's Q3 2021 quarterly is the first mention I can find of AVZ having completed the acquition of the 15% from Dathomir and holding 75% of Dathcom which management say was completed in August 2021.

 

[MoneyBags1348]

18/03/2023
Sam Posted

 

[MoneyBags1348]

19/03/2023
Cruiser Posted

The Congolese Mining Company “COMINIERE SA”
Célestin Kibeya Kabemba, Acting Managing Director.... The guy in he striped shirt.

 

[MoneyBags1348]

22/03/2023
Roon Posted (Re CKK - Célestin Kibeya Kabemba)

He's been deeply involved in the corrupt dealings impacting Dathcom. Prior to his role as acting MD given the detainment of his predecessor KIBEYA was Cominiere's Technical Director / Chief Operating Officer. Documentation presented by journalists and civil society actors in 2022 *including minutes of Cominiere board meetings* showed he was one of those involved in orchestrating the Zijin theft of the 15%, for which the deposit has disappeared into various pockets. its believed he was behind the two mysteriously identical yet allegedly independent valuations of the 15% supporting that looting effort by providing documentation undervaluing that in comparison to the DFS data. He's also thought to have existing relations with Zijin through previous links with Kamoa Copper which no doubt helped facilitate their entry into this game - so he should be considered one of the architects of our drama along with the other two Cominiere officials, DG Cami, MOP, etc.

He's also faced accusations over corruption with relation to the United Cominiere / Tantalex case with Eric Allard, with his signature co-signing against various dodgy deeds. Along with other various scandals. He's a corrupt rat through and through and I hope MM does indeed burn him. There's plenty of evidence to support a burning.

Various actors in DRC attempted to have him implicated and imprisoned alongside his Cominiere colleagues regarding the irregular transfer to Zijin without success. Perhaps he feels the walls closing in?

 

[MoneyBags1348]

24/03/2023
Spike it was about this original YouTube interview on JMK Today on 17/03/2023 with Celestin Kibeya Kabemba (the acting Managing Director of Cominiere)....



Following the interview @Roon made the following observation:

He's been deeply involved in the corrupt dealings impacting Dathcom. Prior to his role as acting MD given the detainment of his predecessor KIBEYA was Cominiere's Technical Director / Chief Operating Officer. Documentation presented by journalists and civil society actors in 2022 *including minutes of Cominiere board meetings* showed he was one of those involved in orchestrating the Zijin theft of the 15%, for which the deposit has disappeared into various pockets. its believed he was behind the two mysteriously identical yet allegedly independent valuations of the 15% supporting that looting effort by providing documentation undervaluing that in comparison to the DFS data. He's also thought to have existing relations with Zijin through previous links with Kamoa Copper which no doubt helped facilitate their entry into this game - so he should be considered one of the architects of our drama along with the other two Cominiere officials, DG Cami, MOP, etc.

He's also faced accusations over corruption with relation to the United Cominiere / Tantalex case with Eric Allard, with his signature co-signing against various dodgy deeds. Along with other various scandals. He's a corrupt rat through and through and I hope MM does indeed burn him. There's plenty of evidence to support a burning. Various actors in DRC attempted to have him implicated and imprisoned alongside his Cominiere colleagues regarding the irregular transfer to Zijin without success.


Today @Bin59 posted this Twitter link of another (more recent interview) this arsehole did where he wants Zigin to operate the mine




I was thinking the following things should be highlighted

Cominiere and Zigin have defrauded Dathcom of millions of dollars, including Cominiere embezzling millions of dollars in the transaction

The Inspector General of Finance (Jules Alingete) finds Cominiere's sale of shares to Zigin was illegal and fraudulent

The Managing Director and Technical Director of Cominiere were charged and jailed for illegal fraud and embezzlement of funds relating to the sale of shares to Zigin


Somewhere through the comments and replies to the Tweet by Kiki Kienge about this second interview, @JAG posted a chart showing Zigin's appalling human rights record which would also be good to use

 

[MoneyBags1348]

28/03/2023
Xerof Posted

An important piece of this mess of a puzzle would be the outcome of the ICC case between COMINIERE and MMCS, over the 5% illegally granted to MMCS by our beloved Princess. COMINIERE really, really need this 5% back, to be able to cede 10% to DRC state, with the 15% remaining clear for us to be able to negotiate with DRC over (or worst case Zijin keeps it)

The last I heard was the parties had 90 days to come to an agreement, but nothing has surfaced.

Would anyone with Congolese connections other than Princes and self appointed entrepreneurs called William, like to make enquiries? Marius, Franck or Kiki might be able shed light on this (although things have gone frighteningly quiet over there since the Cabinet reshuffle)

 

[MoneyBags1348]

29/03/2023
Cruiser Posted

This tells the amazing story of Zijin's (Chinese State Company and thus represents China in this dirty business) attempts to acquire for a criminal illegal fire sale price of US$33.4 million 15% of Dathcom's discovered and AVZ funded world class Tin and Lithium deposit in Manono.

Just unbelievable how he Chinese hung themself out to be seen, without any shame, as a bunch of cheap and nasty highway thieves.

Shame on you China!!

Manono lithium certified by Dathcom Mining: the underside of a plot revealed​

February 17, 2023 Mining

While the recent report by the General Inspectorate of Finance (IGF acronym) highlighted the poor management and selling off of the mining assets of the Cominière Portfolio company by the members of its board of directors, a letter, related documents and three audios that have reached our editorial office bring to light a plot hatched in the shadows: to sell at all costs, and in defiance of the prescriptions of the law to a Chinese investor, Cominière's stake in Dathcom Mining, the joint venture company venture that it holds with the Australian AVZ International Ltd and Dathomir SASU, a company under Congolese law belonging to the discreet but no less powerful Simon Cong Mao huai.

It all starts when the Chinese mining company ZijinMINING, through its subsidiary Jin Cheng tries around November 2021 to acquire the shares of Cominière within Dathcom Mining, i.e. 15% of the shareholding of the joint venture company in November 2021 Zijin and Cominière sign a share transfer agreement without having notified AVZ International or having previously given it the possibility of exercising its right of first refusal as prescribed by law.

Faced with AVZ's refusal to endorse this irregular transfer, Zijin and Cominière returned to the charge, no longer frontally but, like a crab, sideways.

In a letter dated October 22, 2022 addressed to Cominière with the aim of "advancing the Manono lithium mining project" , Chen Jinghe, Chairman of the Board of Directors of Zijin Mining made a proposal to his interim counterpart at within the Congolese company: do everything to acquire the northern portion of the northern concession covered by Dathcom Mining's Exploitation License 13359, a part which the company would have renounced.

Mr. Jinghe, who describes the exercise by AVZ International of its right of pre-emption on any sale proposal by a shareholder as an '' abusive use of its majority ' ', informs Cominière of his company's desire to acquire from now on '' the northeast part of PR 13359, the part referred to .''

In return, Cominière will be rewarded by receiving 29% of the share capital of the company to be created to exploit the coveted portion of PE 13359.

But the game does not look very simple: according to the mining code, any portion of a permit which its holder renounces is first returned to the public domain of the State, leaving it up to any interested person to make the request to the Mining Cadastre. And given the lusts fueled by lithium at the moment and the number of companies jostling at the gate of the DRC to have a piece of the cake, it is not certain that the northern portion of PE 13359 will automatically return to Zijin or its subsidiary.

This is why the letter, in unequivocal terms, requires that Cominière "be able" to obtain this portion of the concession and the rights attached thereto, failing which Zijin will not transfer the 15 % of Dathcom's shareholding that it illegally acquired from Cominière for the tidy sum of 33, 4 million US dollars but of which it is unable to avail itself by virtue of the exercise, by AVZ International, of its right of first refusal.
Like what, it is never good to put the proverbial cart before the horse...

As Zijin's letter so eloquently states: '' To avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Target Party to the Joint Venture, COMINIERE will not have the right to demand from JIN CHENG the retrocession of 15% of shares in DATHCOM, nor the waiver of the payment it made for the acquisition of 15% in the capital of DATHCOM on behalf of COMINIERE.' '

To tell the truth, Cominière would lose everything and would find itself in debt to the tune of 33.4 million dollars, an amount that this company, badly managed and without any income, would have all the trouble in the world to repay.

We therefore understand all of Cominière's despair, whose senior management, as the IGF report demonstrates, have already squandered part of the sum paid to it, and which it is already unable to repay to a Hard-pressed Zijin who was promised the moon to receive nothing but lead.

We also understand the peremptory tone of PCA de Zijin and the orders to the Board of Directors of Cominière to which she addresses herself as vulgar obedient and submissive lackeys.

Who hastened to put pressure on a Minister of Mines who granted them a Ministerial Order reporting PE 13359.

As detailed so well in the IGF report, Cominière perfectly illustrates the disastrous management of the companies in the Portfolio and the way in which they collude with a number of foreign companies to loot and sell off the natural resources which rightfully belong to the Congolese. (Folder to follow)

By Mupungila Malu, New Congo and Leader.

 

[MoneyBags1348]

30/03/2023
Frank Posted

Manono lithium cases / DATHCOM project: civil society in a mission of good offices

Manono's lithium cases/DATHCOM project: civil society in a mission of good offices

This round table was organized at the initiative of the civil society of Manono with the accompaniment of experts in the field of natural resources of Lubumbashi and Kinshasa under the coordination of the Monsignor the diocesan bishop of Manono Vincent de Paul Kwanga and that of the Methodist Church, Monsignor Guy Mande Mutombo.

This mission of good offices puts around the same table, the managers of L'AVZ (majority shareholder with 60%) and COMINIERE (25% including 15% already sold to Xinjin) in order to understand the points of convergence and divergences within of the DACHTOM mining project, thus proposing exit routes in order to exploit the lithium of Manono with positive spin-offs for the development of the DRC from Manono in the Province of Tanganyika.

This civic approach beneficial for the population of Manono and two shareholders aimed at promoting the business climate and protecting investors in accordance with the commitments of the Congolese Government and good practices at the international level.

In face-to-face and videoconference, the civil society of Manono obtained the adhesion of the managers of both companies, the commitment to meet at the General Assembly of DACTHCOM after having obtained the opinion of their hierarchy respectively as well as the commitment to dialogue for the benefit of all stakeholders including the population of Manono.

It should be noted that a series of pleas will be carried out by the organizers of this round table at each level of institutional and associative responsibility in order to obtain the operating permit and the relaunch of the DACTHCOM Project, a guarantee of development of this Zone.

 

[MoneyBags1348]

This was posted previously in the Corruption thread by Sam (on page 8) but is even more relevant today

Sale of the mining assets of Cominière SA: Technical director Célestin Kibeya accused of complicity and usurpation of competence​

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), monitoring exploitation of natural resources in the Democratic Republic of Congo, accused, in a press release, the technical director Célestin Kibeya Kabemba of being no stranger to the selling off of the mining assets of the Congolese mining company (Cominière SA).

Worse still, the man exercises the functions of interim Director General without presidential order, nor decree of the ministry of supervision, that of the Portfolio, even less a report of the Board of directors.

"Already on October 26, 2022, when the interim Managing Director Mwamba Athanase was not yet in the hands of Congolese justice, the same Mr. Kibeya had co-signed as '' Managing Director ai '' on behalf of Cominière SA a press release press attributed to UNITED COMINIERE SAS with Eric Allard, a convicted person in Lubumbashi for forgery and use of forgery, and Michel Kitwa Nelkin. “, denounce these NGOs.

These structures draw the particular attention of the President of the Republic, Félix Félix Tshisekedi and the Prime Minister, Jean-Michel Sama Lukonde to these facts. "Mr. Célestin Kibeya is one of the key players in the sale of Cominière SA shares to Jin Cheng Mining Company Limited (a subsidiary of Zijin) and the undervaluation of the market value castigated by the General Inspectorate of Finance ( IGF) and for which Mr. Mwamba is the only one warned to date, while several elements demonstrate internal teamwork at Cominière SA. “, warn these civil society structures.

Bradage des actifs miniers de la Cominière SA : Le directeur technique Célestin Kibeya accusé de complicité et d’usurpation de compétence – Congo nouveau

congo-nouveau.info

 

[MoneyBags1348]

 

[MoneyBags1348]

31/03/2023
Sam Posted

"It was not in the interest of our country, that's why we came back to it"
NEWSECONOMY

For Nicolas Kazadi, the Congolese government wants to reconsider the Manono lithium contract​

March 31, 2023
Kiki Kienge

By Kiki Kienge
This is now one of the issues that will make the headlines for a while in the DR Congo, Manono's lithium.

The DRC Congo after two negative attempts for the exploitation of lithium from Manono in the province of Tanganiyka, first with a Mauritian company, MMCS and later with the Chinese company, Simon Cong, DATHOMIR . These two companies having received at least 70% of the shares of the Congolese State in the joint venture to carry out the feasibility study for the exploitation of lithium, were unable to do so despite the 70% received from raise sufficient funds for the realization of this project. The Australians of AVZ Minerals, buying 60% of the shares of DATHOMIR notably invited themselves to the dance, thus becoming the majority shareholder of DATHCOM, the joint venture between the Congolese State through COMINIERE and DATHOMIR of Simon Cong.

COMINIERE having sold off its shares, from 30% today with only 5%, puts the Congolese State in difficulty, which no longer has control over its lithium.
Here's how the current share distribution in DATHCOM would look like:

• AVZ 60% + (15% in dispute with DATHOMIR).
• COMINIERE had 25%, 15% sold to ZIJIN and 5% transferred to MMCS.

COMINIERE would thus only own 5% plus the 5% that DATHOMIR would have to retrocede to COMINIERE for not having built the Lubumbashi Manono road.
But then after having granted the exploitation permit to DATHCOM, the Minister of Mines of the DR Congo, Antoinette Nsamba Kalambayi following the accusations of COMINIERE in the management of DATHCOM against AVZ Minerals, the latter had withdrawn the exploitation permit, thus blocking the construction of the factory for the exploitation of lithium in Manono.
Interviewed by a journalist from the Financial Times, the Minister of Finance of the DR Congo, Nicolas Kazadi spoke of a desire of the Congolese government to want to review the contract between COMMINIERE and its partners, AVZ Minerals and DATHOMIR:
“FTimes; Let's move on to another mineral that Congo has and is probably also in my phone, lithium. Congo has a potential large lithium project at Mano. It has also been in the news for various reasons. There was a dispute with one of the owners, AVZ Minerals. If I understand correctly, their license has been revoked. Can you tell us what the Congo is planning for this deposit? »
“N Kazadi; Yes, it was done a bit in a not very, very transparent way, it was not in the interest of our country, which is why we came back to it. But I would not like to say more about this, because the procedure is still ongoing. »

Should the Congolese government be content to recover its 25% sold off by its company COMINIERE, or seek to nibble a few more percentages of AVZ Minerals and the 15% still in dispute with DATHOMIR?

Pour Nicolas Kazadi, le gouvernement Congolais veut revenir sur le contrat du lithium de Manono - Kongo Presse

Par Kiki Kienge C’est désormais un des dossiers qui fera la une pendant un bon moment en RD Congo, le lithium de Manono. La RDC Congo après deux tentatives négatives…

kongopress.com

 

[MoneyBags1348]

31/03/2023
Sam Posted

 

[MoneyBags1348]

01/04/2023
Cruiser Posted
We all know by now $240 million for 24% is a bargain. Cath will have to do some hard thinking if they wish to materialise that sale.

Zijin / Avz ICC case was called for by Zijin , DRC can thank them for that. The fact AVZ insisted to have this not behind closed doors is painful for Zijin, cominiere and DRC, but not a criminal offence.

How can Avz lose a mining license they never had? The ML was taken away from a DRC JV. If the JV loses the ML permanently the situation becomes even messier.

Can the Drc remove Avz from the JV, taken in account the Igf statement?

The Manono locals and churches got a surprise when Avz opened its books, it understandably pissed CKK off big time.
This of course will be reported back to Felix, MoM and MoP.

Will see what happens next.

Dathomir so far has not spent a cent, they sold 240 million Avz shares they obtained in effect for free. They never made the roads for which they were paid an extra 5% Dathcom shares…. Something the DRC should have a very good look at.

Zijin put $33.4 million on the table, did they ever paid the full amount, and a blackmail letter.

 

[Flight996]

There are 54 countries in Africa.

In 2022, the DRC was rated 49/54 on the global corruption perception index (Ref: https://www.worldeconomics.com/Indicator-Data/Corruption/Corruption-Perceptions-Index.aspx). To put it differently, only four of fifty four countries were perceived more corrupt than the DRC.

Not surprising that DRC politicians might be a bit sensitive about their well-deserved reputations. However, if Mr Presidento wants a different global perception of the DRC he needs to step up and walk the talk, rather than just flying around the world pressing the flesh and accumulation frequent flyer points.

As for Mr Pesidento's aspirational lithium battery and EV manufacturing complexes, well they're never going to happen. If they can't even did up some ore, which is the easy part, they will never get the technically complex manufacturing facilities past first base.

Cheers
F

 

[MoneyBags1348]

05/04/2023
Frank Posted

Head-to-head Kamerhe-Alingeti to the national economy!

The General Inspectorate of Finance promises to support the Ministry of National Economy, by providing its expertise in economic and financial inspection.

This was indicated by the Inspector General, head of services, Jules Alingete at the end of a head-to-head, this Monday, April 03, with the Deputy Prime Minister, Minister of National Economy, Vital Kamerhe.

“The General Inspectorate of Finance is willing to support the economic, commercial and industrial inspection department of the Ministry of National Economy in the context of price control of products that are sold throughout the national territory.

It is a mission and a job that we have had to do in the past, so we are ready.” underlined Jules Alingete, Inspector General of Finance, Head of Services.

It was also a moment, for the two personalities, of sharing experience in dealing with economic and financial issues, but also and above all, of the expectations of the Ministry of National Economy vis-à-vis the General Inspectorate of Finances.

“We are also a working tool for the entire executive, it is quite normal that we can support the Ministry of National Economy in achieving its objectives.

We expect His Excellency the Deputy Prime Minister, Minister of the National Economy, to boost the economy of our country, and that many of the economic parameters are now under control, in the general interest of our populations”, concluded the Inspector General of Finance, head of department.

It should be noted that the support and involvement of the IGF requested by the Deputy Prime Minister in charge of the Economy, Vital Kamerhe, will enable his portfolio to fight against the leakage of revenues in his sector, by strengthening economic control and supporting the Directorate responsible for it within the said Ministry.

mediacongo

 

[MoneyBags1348]

05/04/2023
Roon Posted

Felix Tshisekedi is personally involved in lifting American sanctions against Getler, accused of looting billions of US dollars in DR Congo

"Gertler was one of the few, if not the only, economic operators to engage in this innovative process" Félix Tshisekedi
NEWSECONOMYINTERNATIONAL

Félix Tshisekedi is personally involved in lifting American sanctions against Getler, accused of looting billions of US dollars in DR Congo​

April 4, 2023
Kiki Kienge

By Kiki Kienge
According to the New York Times, Congolese Head of State Félix Tshisekedi has become the ally of Israeli billionaire Dan Gentler and personally implicates his authority to ask for the removal of the name of the Israeli billionaire from the list of American sanctions.

The Congolese President intervened directly asking his counterpart, Joe Biden, for a favorable involvement in the issue of sanctions against Getler.

The Israeli diamond billionaire is accused of looting, corruption in mining and oil agreements worth more than US$1 billion in DR Congo under the regime of Joseph Kabila Kabange, who was even the godfather of Kabila and Olive Lembe.

Until yesterday Dans Getler was linked to the old regime, but now by the flair of business, Getler has now been able to place himself alongside Félix Tshisekedi who becomes his defender at the American justice system.

In a letter published by the American media, on behalf of his presidency, Félix Tshisekedi wrote directly to Joe Biden to ask the Treasury Department to cancel the sanctions against the Israeli billionaire, since he would now behave properly towards the laws of DR Congo.

INTEGRAL OF THE LETTER FROM THE CONGOLESE PRESIDENT, FELIX TSHISEKEDI TO JOE BIDEN:

Mr. President,
It is my great honor to send you this missive, in these particularly gloomy times for humanity where wars, conflicts and other threats that were thought to be forgotten or of another time reappear - to inform you of substantial advances encountered in my country, the Republic
Democratic Republic of Congo, in the fight against corruption and fraud, scourges that have enslaved my people for many years.
Indeed, since its accession to independence, the Democratic Republic of Congo has received special attention from the international community, including the United States of America, due in particular to the violence and conflicts that have taken up residence there, but also to the state of non-law that transcended the relations between the State and its citizens.

Worse, it has turned into a sad paradise where abundance and richness in mineral resources, although elsewhere catalysts for economic development, only slightly benefit its people.

In love with justice and development, the day after my election as head of the Democratic Republic of Congo, I made the establishment of a true rule of law based, among other things, on the adoption and vigorous application of new rules of conduct focused on maximizing the income from the exploitation of our mineral resources, my workhorse. This, with the aim, in particular, of ending the exploitation of the unfair fallout suffered by my country, to open the door to investors with a much more accommodating and human rights-friendly ethics and to significantly improve the daily lives of my compatriots who have so far been condemned, for many of them, to live below the poverty line.

This new approach has resulted in particular in a strong desire to stop the sale of our resources, to implement mechanisms to protect our most strategic minerals and to renegotiate certain mining contracts; a sector once maliciously captured and dominated by the administration of my predecessor as evidenced by various reports from international and non-governmental organizations.

It is in the continuation of this new printed logic, that discussions leading to a renegotiation of contracts held by affiliated companies in the person of Mr. Dan Gertler ( Ventora Group), an Israeli subject under American sanctions (Magnitsky law), as well as a large Chinese-owned company. It is clear that Mr. Gertler was one of the few, if not the only, economic operators to engage in this innovative process that recently led to the conclusion of an unprecedented amicable agreement that we believe is optimal for the Democratic Republic of Congo and its people.

Mr. President,
The constant commitment that the United States of America has shown alongside the Democratic Republic of Congo to fight against fraud, money laundering and illicit capital capture, as well as corruption, urges me to share with you in a more comprehensive way the content as well as the context that prevailed at the conclusion of the said agreement.

As a reminder, the Gertler Group has been active in the Democratic Republic of Congo for two decades, and some of its actions have raised legitimate concerns that we have highlighted, with our civil society and foreign partners, while we were in the Opposition. Faced with these legitimate concerns and in order to help our country and our people, the United States of America had taken care to bring down Mr. Gertler, as well as several people and other entities associated with him, under the effects of the Globa/Magnitsky Act.

These targeted sanctions were nothing less than transformative and saving for our fight. They were the catalyst who brought Mr. Gertler and his group to the negotiating table. Our team, composed of professionals in the diplomatic, economic and legal fields, made full use of the leverage that American sanctions offered us. This resulted in an innovative and unprecedented agreement, under which Mr. Gertler and his group renounced all their
gold and iron licenses, their oil drilling permits for Lake Albert and a significant part of their future revenues from royalties on copper and cobalt owed by third parties. The total value of the assets and rights thus granted to the Democratic Republic of Congo is estimated at about US $2 billion.

This agreement is not only a first for my country; it is also the first time that a state on our continent has recovered such a quantity of assets through peaceful ones.
We now believe, with confidence, that the Democratic Republic of Congo no longer has any grievances against Mr. Gertler and his group. This position is supported in particular by several local non-governmental organizations that have campaigned against the actions of the group and who have just made a public statement supporting the signing, by our country, of this historic agreement at the end of a long conflict.

Mr. President,
In light of the above, this letter is intended to be a plea in favor of the removal of Mr. Dan Gertler and his group from the Global Magnitsky Act.

Indeed, since the objective sought by the sanctions enshrined in the Global Magnitsky Act has been achieved, in that it has forced Mr. Gertler and his group to comply with the good practices of the mining and hydrocarbon sector of the Democratic Republic of Congo, we believe that they no longer need to be imposed more, for fear of having a negative impact
on the economic interests of our country.

For your information, it is up to you to inform you that in recent years, the Democratic Republic of Congo has had difficulty attracting branded foreign investors. If sanctions are perceived by foreign investors as a dead end to the liquidation of their entities and the cessation of their activities, this anxiety will certainly lead to the disappearance of foreign direct investment in Congo.

It would therefore be counterproductive if the understanding essence of the Global Magnitsky Act were supplanted, in this case, by the continuation of a strict and rigid application of its effects against a Group broken to Congolese realities, repentant and eager to begin a new era of cooperation.

In doing so and in order to maintain a communication channel free of any interference between our respective States regarding the process undertaken, I have the honor of my country, to these personalities are also added the presence of the Honourable Irwin COLTER, Minister of Justice and Honorary Attorney General of Canada, architect of Canadian legislation "Magnitsky", and leader of the global movement called "For Sergei Magnitsky", to advise and assist me on these issues.

Finally, I take this opportunity to reiterate this desire carried by my people to continue to work to consolidate relations between our two States and one of the symbols of which would consist of a high-level bilateral meeting.

Wishing you good reception of this, please accept,

Mr. President, the expression of my perfect consideration.

 

[MoneyBags1348]

05/04/2023
Frank Posted

Gertler: Biden's silence on Tshisekedi's confidential letter

Félix Tshisekedi's letter to Joe Biden dated May 05, 2022 has just leaked.

This confidential correspondence had never been answered by the head of the White House, 10 months ago.

Could it be a disagreement between Kinshasa and Washington or a polite refusal from the American president, worry senior analysts.

The lifting of the sanctions imposed on Dan Getler is not yet on the agenda at Joe Biden.

Kinshasa, which is desperately trying to heal the image of its partner, still has its work cut out for it.

The newspaper The New York Times which delivered the information indicates that President Félix Tshisekedi intervened directly with President Biden, asking that the Treasury Department cancel the sanctions against Gertler.

In this correspondence, Tshisekedi affirms “to share substantial progress encountered” in his country, the Democratic Republic of Congo, “in the fight against corruption and fraud, scourges which for many years have enslaved” his people.

The Congolese President reminded his American counterpart of the latest developments in the situation in the country, in particular the violence and conflicts that have taken up residence there, but also the state of lawlessness that transcends the relationship between the State and its administered.

Worse, it has turned into “a sad paradise where the abundance and wealth of mineral resources, although elsewhere catalysts of economic development, only marginally benefit its people”.

He emphasizes his concern to put an end to the exploitation and the inequitable consequences suffered by his country, to open the door to investors with much more accommodating ethics and respect for human rights and to significantly improve the daily lives of his fellow citizens who have hitherto been condemned, for a large number of them, to live below the poverty line.

Renegotiation of contracts with Dan Getler

Tshisekedi's letter traces his government's new approach, which has resulted in a strong desire to "put an end to the selling off of resources", to implement mechanisms aimed at protecting the most strategic minerals and to renegotiate certain contracts. mining; sector once maliciously captured and dominated by previous administrations.

Discussions leading to a renegotiation of contracts held by companies affiliated with the person of Dan Gertler (Ventora Group), an Israeli subject under American sanctions (Magnitsky law), as well as a major Chinese capital company.

“It is clear that Mr. Gertler was one of the few, if not the only, economic operator to engage in this innovative process which recently led to the conclusion of an unprecedented amicable agreement that we believe to be optimal for the Democratic Republic of the Congo and its people,” Tshisekedi detailed to Biden.

The same letter recalls elsewhere the constant commitment shown by the United States of America, which has demonstrated alongside the Democratic Republic of the Congo, in the fight against fraud, money laundering and the illicit capture of capital, as well as Corruption.

The United States of America had taken care to bring Dan Gertler, as well as several people and other entities associated with him, under the effects of the Global Magnitsky Act.

“These targeted sanctions have been nothing less than transformative and life-saving for our fight”, underlines Félix Tshisekedi.

They were the catalyst that brought Mr. Gertler and his group to the negotiating table, he says.

The Congolese president tries to reassure his American counterpart on Gertler and his group, saying that the latter have given up all their gold and iron exploitation licenses, their oil drilling permits for Lake Albert and a significant part of their future revenues from copper and cobalt royalties owed by third parties.

The total value of the assets and rights thus granted to the Democratic Republic of the Congo is estimated at around US$2 billion.

No more grievances against Getler, Kinshasa wants sanctions lifted

For Félix Tshisekedi, the DRC has indeed recovered a quantity of assets through peaceful negotiations.

“We now believe, and this, with complete confidence, that the Democratic Republic of the Congo no longer has any grievances against Mr. Gertler and his group”, reassures Tshisekedi to his American counterpart.

A letter which is a plea expressed in favor of the radiation of Dan Gertler and his group, from the Global MagnitskyAct.

Indeed, since the objective sought by the sanctions enshrined in the Global Magnitsky Act has been achieved, in that it has forced Mr. Gertler and his group to comply with good practices in the mining and hydrocarbons sector of the Republic Democratic Republic of the Congo, Tshisekedi believes that they no longer need to be taxed further, for fear of having a negative impact on the economic interests of the DRC.

Five years ago, the United States accused the wealthy Israeli diamond dealer (over $1 billion) of carrying out corrupt mining and oil deals in the Democratic Republic of Congo, saying they were undermining economic growth and " the rule of law" of the DRC.

Despite US accusations that Gertler had, in effect, plundered the country, Tshisekedi intervened directly with President Biden, asking the Treasury Department to rescind the sanction, documents obtained by The New York Times report.

Gertler has long disputed the allegations, saying he never paid bribes and that his investments in Congo generated billions in taxes and thousands of jobs.

The Jewish tycoon previously tried to get the sanctions lifted in 2019, under the Trump administration.

He hired Alan Dershowitz, an ally of the president, as well as Louis J. Freeh, the former director of the FBI, and successfully pressured then-Treasury Secretary Steven T. Mnuchin to largely repeal sanctions, as reported by The New York Times in 2021.

But Biden's team, days after his inauguration in 2021, decided to reinstate the sanctions.

“The credibility of the United States has been significantly damaged,” he said, “as has the credibility of the Global Magnitsky sanctions program” referring to the Human Rights and Corruption Act under which Gertler was punished, according to documents published by the New York Times under the Freedom of Information Act.

Gertler did not give up

His Washington-based law firm, Arnold & Porter, has submitted a new petition to have the sanctions lifted.

The Times sued the Treasury Department for copies of this correspondence and other emails.

The Congolese president, for his part, warned that the non-lifting of sanctions could have serious consequences for access to the country's natural resources.

“If the sanctions are perceived by foreign investors as a dead end to the liquidation of their entities and the cessation of their activities, this concern will surely lead to the disappearance of foreign direct investment in Congo,” Tshisekedi wrote in his letter to Joe Biden.

In recent weeks, Dan Gertler's lobbying campaign has extended to international human rights groups, which had strongly criticized his activities in Congo, asking them to support his efforts to have the authorities lift sanctions.

mediacongo

 

[MoneyBags1348]

06/04/2023
Cruiser51 Posted

Just some old stuff

Zijin Mining Group Co., Ltd.
ZIJIN MINING GROUP COMPANY LIMITED
To avoid ambiguity, it is clarified as follows: If COMINIERE fails to legally and effectively transfer the mining rights in the "target area" to the name of the joint venture company, COMINIERE has no right to request Jincheng to return 15% of DATHCOM's shares, nor does it have the right to request Jincheng to give up its Payment to COMINIERE for the acquisition of 15% of DATHCOM.

To avoid any ambiguity, it should be specified that if COMINIERE fails to legally and effectively transfer the mining right of the Target Party to the Joint Venture, COMINIERE will not have the right to demand from JIN CHENG the retrocession of 15 % of shares in DATHCOM, nor the waiver of the payment it made for the acquisition of 15% in the capital of DATHCOM on behalf of COMINIERE.

3. When applying this offer, COMINIERE will promise that any income tax, stamp duty, transfer tax and any other taxes that may arise in Congo (Kinshasa) and any other countries or regions due to the above-mentioned "15% equity return" will be borne by COMINIERE bear.

3. Pursuant to this Offer, COMINIERE will undertake to pay any income tax, stamp duty, transfer duty and any other tax or duty which may arise in the DRC and in any other | country or region following the aforementioned “15% Share Retrocession”.

4. Both parties and their directors, managers, employees, and agents shall keep this letter and this offer strictly confidential. without the prior written consent of the parties shall not disclose any information, knowledge, Discussion, negotiation or progress.

4. Both parties and its directors, officers, employees and agents shall keep this letter and this Offer in strict confidence. No information, knowledge, discussions, negotiations or developments between the parties of which they are aware in connection with this Offer, the Joint Venture Agreement and all transactions and documents relating thereto will be disclosed without the prior written consent of each party.

This offer is valid for a period of 60 days ("Validity Period") from the date of receipt of this offer by COMINIERE. If COMINIERE accepts this offer, it must be signed and signed in the signature box before the expiry of the validity period. Otherwise, unless Zijin Mining chooses otherwise, this offer will automatically lapse.

The validity of this Offer is 60 days (“the Validity”) from the date of its receipt by COMINIERE. In the event of acceptance of this Offer by COMINIERE, the latter must acknowledge receipt and sign on the signature page before the expiry of the Validity period. Otherwise, this Offer will be considered automatically null and void, unless Zijin Mining decides otherwise.
5/6

This was the part of the Zijin letter with the proposition to acquire 70% of 13359 north, which is not possible anymore, blocked by re-uniting 13359 to one lease.

However Zijin makes it abundantly clear here, that it has no intention to hand the 15% of Dathcom back to Cominière and be mister nice guy.

I think it is the problem, which will not be solved without Presidential intervention.

 

[MoneyBags1348]

14/04/2023
Frank Posted