Sunday , October 24 2021

DRC's Gecamines from foreign mining companies to shame for loss of red lands


Gécamines, the state-owned miner of Democratic Republic of Congo, has launched a bloody attack against international mining companies and has been charged with corruption against the company's "hypocrisy".

Albert Yuma, chairman of Gecamines, said foreign mining companies were the DRC – one of the poorest countries in # 39; have caused the world to expect millions of dollars in anticipated revenue over the last ten years.

By "under-evaluating the results of project companies in DRC," says Gecamines that the DRC has lost $ 4.9bn in revenue between 2002 and 2016, compared with the first projections that are promised by feasibility studies.

The report is based on setting lower minimum taxes in DRC this year under a new law delivered by the President Joseph Kabila in March. The rejection of the 2002 agricultural code is strongly opposed to international companies such as Glencore, Ivanhoe Mines and Switzerland Molybdenum.

Gécamines, a 'minority partner' partner in most mining projects in the country, has said the mining code has said it also wants to buy contracts with international mining companies. The new code "remains in the standard of global mining industry and poses no risk for its profitability," says Gecamines on Wednesday.

Gécomines says that the loss of revenue since 2000 is largely due to the investment and operating costs of mining projects that have not benefited. But some of these expenses were in financing costs, although businesses even supplied businesses to businesses, Gecamines said.

In June Glencore went to write $ 5.6bn of debt to the Katanga Copper and Cobalt Project, following a decision by Gecamines.

"The report announces how the system is being executed by multinational companies in the field of promoting GéComines and DRC on the benefits of their projects," said Gecamines. "By under-evaluating the results of project companies in DRC, while these multinationals are simultaneously included in accounting for financial markets."

Mr Yuma refused to announce that money from companies in # 39; The companies have disappeared in recent years, saying that their accounts were audited and publications were published in accordance with the Extractive Industry Transparency Initiative (EITI).

Last year, the Atlanta-based Carter Centrum said 750 million dollars were paid to Gecamines of compensation and fees between 2011 and 2014 not found on their accounts.

Gécomines said all money could be expected in his accommodations, "dollar by dollar".

Between 2009-2014, Gécamines paid $ 372m to the State of DRC, Mr Yuma said, answering no more than $ 75m by the Carter Centrum.

"Theirs [NGOs] Only objective is the destabilization of DRC to operate without hindrance, in & nbsp; The name of pseudo-democratic ideals, foreign demand for cobalt, kaltan, copper, gallium, germanium and other strategic minerals that make the world so poor to ensure their energy output, "Be Yuma.

Gécomines said that 850m had invested in $ 850m in his miennies meeting after the 2010 tour of the farm, including copying chapters as Deziwa. The company will invest $ 101m in 2018, said it.

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