Dave Evans
Regular
2024
Warning
International miners and investors be warned before investing in the DRC Mining and Battery Minerals sectors. The DRC doesn’t follow its own Mining Code and also doesn’t abide by International Arbitration orders, including those by the International Chamber of Commerce (ICC) and the International Centre for Settlement of Investment Disputes (ICSID).
The DRC invites foreign companies to invest in its mining and minerals sectors and once projects have been developed by foreign miners the DRC seizes the projects and re-sells them to Chinese companies. Currently the DRC owes billions of dollars in financial penalties via the International Courts following the corrupt and illegal seizure of projects by the State.
Recently, AVZ Minerals spent $140 million and fulfilled all mining license requirements, developing the Dathcom Manono lithium project to the Mining License and construction stage, then the DRC illegally and covertly took steps to deny AVZ and Dathcom the Mining License, seized Dathcom’s project and sold it to Zijin Mining.
This was done by DRC State Mining Company Cominiere in collusion with the CAMI, Ministry of Mines and Ministry of Portfolio, all under the watchful eyes of the President. It has resulted in more than 20,000 international investors losing more than $2 billion dollars of their investment.
The ICC and ICSID ordered Cominiere not to take steps to explore or exploit within PR13369 or PR15775, and to reestablish Dathcom as the holder of PR13359 but the DRC has continued to violate these orders.
The DRC mining sector is not only corrupt, it is broke and refusing to pay the penalties to AVZ Minerals (already over $70 million) ordered by the ICC and ICSID in arbitration for continuing to violate its orders.
Cominiere was shown by the Inspector General of Finance to have committed fraud and its Managing Director (Celestin Kibeya) has been recorded taking a bribe from Zijin. Despite this, and further evidence of the corruption, the President of the DRC has continued to allow Cominiere’s corruption to go on unabated.
Following Celestin Kibeya Kabemba being recorded taking a bribe from Chinese mining giant Zijin, Cominiere illegally sold 15% of shares in Dathcom to Jin Cheng Mining (a subsidiary of Zijin).
Kibeya Kabemba and Cominiere then illegally seized the Manono lithium project from Dathcom and sold the entire northern tenement to Zijin, including the areas where AVZ had drilled and obtained drill core assays, built a camp that housed the drill core library and accommodation for local workers, and other infrastructure.
AVZ has won all ICC and ICSID findings to date but the dispute is ongoing.
The following links contain pages and paragraphs of information, which can be shared with investors during the DRC MINING WEEK event.
Warning
International miners and investors be warned before investing in the DRC Mining and Battery Minerals sectors. The DRC doesn’t follow its own Mining Code and also doesn’t abide by International Arbitration orders, including those by the International Chamber of Commerce (ICC) and the International Centre for Settlement of Investment Disputes (ICSID).
The DRC invites foreign companies to invest in its mining and minerals sectors and once projects have been developed by foreign miners the DRC seizes the projects and re-sells them to Chinese companies. Currently the DRC owes billions of dollars in financial penalties via the International Courts following the corrupt and illegal seizure of projects by the State.
Recently, AVZ Minerals spent $140 million and fulfilled all mining license requirements, developing the Dathcom Manono lithium project to the Mining License and construction stage, then the DRC illegally and covertly took steps to deny AVZ and Dathcom the Mining License, seized Dathcom’s project and sold it to Zijin Mining.
This was done by DRC State Mining Company Cominiere in collusion with the CAMI, Ministry of Mines and Ministry of Portfolio, all under the watchful eyes of the President. It has resulted in more than 20,000 international investors losing more than $2 billion dollars of their investment.
The ICC and ICSID ordered Cominiere not to take steps to explore or exploit within PR13369 or PR15775, and to reestablish Dathcom as the holder of PR13359 but the DRC has continued to violate these orders.
The DRC mining sector is not only corrupt, it is broke and refusing to pay the penalties to AVZ Minerals (already over $70 million) ordered by the ICC and ICSID in arbitration for continuing to violate its orders.
Cominiere was shown by the Inspector General of Finance to have committed fraud and its Managing Director (Celestin Kibeya) has been recorded taking a bribe from Zijin. Despite this, and further evidence of the corruption, the President of the DRC has continued to allow Cominiere’s corruption to go on unabated.
Following Celestin Kibeya Kabemba being recorded taking a bribe from Chinese mining giant Zijin, Cominiere illegally sold 15% of shares in Dathcom to Jin Cheng Mining (a subsidiary of Zijin).
Kibeya Kabemba and Cominiere then illegally seized the Manono lithium project from Dathcom and sold the entire northern tenement to Zijin, including the areas where AVZ had drilled and obtained drill core assays, built a camp that housed the drill core library and accommodation for local workers, and other infrastructure.
AVZ has won all ICC and ICSID findings to date but the dispute is ongoing.
The following links contain pages and paragraphs of information, which can be shared with investors during the DRC MINING WEEK event.
Rampant Corruption Ongoing In The DRC
Why the DRC is a dangerous place to invest The DRC government and mining sectors are rife with bribes, corruption and extortion. In the last two years alone, dozens of articles have been written on the corruption in the Congo by sources including NGOs, Civil Societies and mining and investment...
thestockexchange.com.au
CORRUPTION WORSE IN THE DRC
NOTHING HAS CHANGED SINCE 2017 ASSESSMENT OF CORRUPTION RISKS IN THE AWARDING OF MINING RIGHTS IN THE DRC PDF https://www.google.com/url?sa=t&sou...ChAWegQIAxAB&usg=AOvVaw0kM-taVquP0amGjdMt-PT_ THE FOLLOWING REPORTS ARE FROM DRC NGO AND CIVIL SOCIETY GROUPS INCLUDING GLOBAL WITNESS, ZOOM...
thestockexchange.com.au
THE AVZ MINERALS STORY
Since 2017 in the DRC, AVZ Minerals has spent over $140 million on Acquiring Equipment for Infrastructure, Soil Sampling, Field Mapping, Consulting, Drilling, Metallurgical Testing, Completing a FEED Study, Environmental Study and Impact Assessment Reports including Groundwater Management, a 160...
thestockexchange.com.au
Cominiere’s Corruption
Cominiere’s Corruption Investors, mining companies, battery maker’s and EV manufacturer’s around the world know the story of AVZ Minerals and how DRC state miner Cominiere illegally seized the Manono lithium project from Dathcom and sold it to Chinese Zijin Mining Follow the links below to...
thestockexchange.com.au
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