AVZ 0.00% 78.0¢ avz minerals limited

Risk versus Reward, page-233

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    All happening in the DRC

    The Congolese mining giant, Générale des Carrières et des Mines (Gécamines GCM), no longer hides its ambitions to own the assets of the ERG group, which owns four mines in the Democratic Republic of Congo; Frontier , Comide , Metalkol and Boss Mining , but notably other projects at various stages of development:“Congolese state mining company Gécamines said it has made a firm proposal to buy three Eurasian Resources Group copper and cobalt assets in the country with the aim of recovering partner-owned projects and building reserves in metals essential to the green transition.

    The mining unit of the Democratic Republic of Congo wants to buy three of the Khazakhe mining company's assets in the country and has funds to finance the purchase (…)” Robert Lukama , president of Gécamines, told Reuters on February 13 .

    This proposal comes at a time when several ERG mining sites are invaded by artisanal diggers, headed by a certain Coco Muya , very close to Thierry Tshisekedi, brother of the President of the Republic Félix Tshisekedi , who illegally exploit the site's minerals. .

    But also that the activities of Boss Mining are suspended by the Ministry of Mines for pollution having caused the death of a man and non-signing of the specifications.Particularly when the Kazakh group has already initiated legal actions before two arbitration courts, that of Paris in France and Geneva in Switzerland against the Congolese Government following the blocking deemed illegal by ERG of the group's activities in DR Congo
 
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