Sangha Mining Development Limited, administratively registered in Pointe-Noire, is 100% owned by a sole shareholder, a company domiciled in Hong Kong and called Bestway Finance.Within Sangha Mining Development, Frenchman Manuel André is officially the director. A financial consultant, André was Deputy Managing Director of LCB Bank (BMCE group) until 2016. Bestway Finance, the shareholder of Sangha Mining, is represented by Alexandre Mbiam, a Cameroonian citizen and son of Emmanuel Mbiam, former member of the National Assembly of Cameroon. Emmanuel Mbiam is the founder of Xplor-Tech, a mining company, and since 2014 has headed the finance committee within the Mining Federation of Cameroon. He was in the past linked to Chinese interests in mining permits according to local press.
Bestway Finance has only one Hong Kong dollar as its capital and is itself owned by another Hong Kong-based company named GRL20 Nominee. This entity has an equally modest capital of one local dollar. The structure ultimately belongs to a holding company registered in the British territory of Anguilla, operating under the name of First Director Inc.As detailed last December in Jeune Afrique Business +, the Brazzaville trade register also reports a company called Sangha Mine, created in 2018 and owned by Huo Yan, a Chinese citizen, and Pierre Oba, son of the Congolese Minister of Mines.
SDL Price at posting:
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