This doesn't tell us anything that we don't already know but as you can see the whole thing is now a political football. Just got to hope we end up kicking the goal.
https://kongopress.com/2022/10/20/l...n-a-avz-le-mutisme-du-gouvernement-congolais/- Home
- 2022
- october
- 20
- Lithium Manono: Analysis of IGF reports and COMINERE accusations. Does the IGF give reason to AVZ, the silence of the Congolese government?
"In the sale of the 15%, there was a significant shortfall for the Public Treasury estimated at US$116,560,000"
NEWSECONOMYLithium Manono: Analysis of IGF reports and COMINERE accusations. Does the IGF give reason to AVZ, the silence of the Congolese government?October 20, 2022Kiki KiengeBy
Kiki KiengeIf we come back to his two files of the accusations of
COMINIERE , a mining and commercial exploitation company under Congolese law, to the Australian-Americans of
AVZ Minerals , in particular on the report of the IGF (General Inspectorate of Finances), it is simply because the start of work for the exploitation of lithium is blocked by the non-delivery of the exploitation permit to AVZ Minerals by the
CAMI (mining cadastre).
It was following the report of the General Inspectorate of Finance on COMINIERE S. A that the lawyer for the Congolese mining company, Me
Popol Muamba Mukengeshayi had reacted on Saturday July 30 of this year during a conference held in Kinshasa in the commune of Gombe.
Accusations of COMINIERE SA to AVZ MineralsAccording to Me Popol Muamba Mukengeshayi on the feasibility study made by AVZ Minerals;
“Under the terms of article 8.3 of the joint-venture contract, the feasibility study must be sent to COMINIERE for its opinion within a period not exceeding 15 months from the date of the start of its preparation. What was not done. It is only after request that we will be sent a feasibility study in English, contrary to our agreements. We may believe that our partner is acting in bad faith. We have never been informed of the level of investment committed by AVZ in DATHCOM MINING SA for carrying out the research work. All expenses incurred during operations were made in total opacity. COMINIERE learned through the media that amounts of around 30 to 70 million were used.Me Popol Muamba Mukengeshayi speaks of lies on the sale of 5% of COMINIERE's shares in DATHCOM to MMS, he accuses AVZ Minerals of having included the Mpiana Mwanga power plant in the feasibility study, which is 100% owned by COMINIERE . Of the US$6,800,000 received from AVZ Minerals and already spent by COMINIERE, for the lawyer it is a non-refundable signature bonus as provided for in the provisions of the joint venture contract.
Me Popol Muamba Mukengeshayi denounces the management without the consultation of the other partners of the DATHCOM, he speaks in particular of the regularity on the sale of the 15% of the shares of the COMINIERE to the Chinese of the company JIN CHEN.
Me Popol Mutamba had concluded his accusations against AVZ Minerals as follows;
"By attempting to turn the signature bonus into a doorstep, by undermining DATHCOM's social governance, by intervening to prevent COMINIERE from regularly selling some of its shares to partners with genuine financial and technical capacity, by proof of opacity in the development of the feasibility study and by insisting on transferring more shares than those it holds, the company AVZ ceases to show good faith and jeopardizes the outcome of the project.Report of the IGF (General Inspectorate of Finance)This report was signed by
Muhiya Lumbu Nicolas , Inspector General of Finance Head of Revenue and Tax Services Brigade and
Jules Alingete Key , Inspector General of Finance and Head of Service. Here are a few passages.
On the "regularity" alleged by Me Popol Muamba Mukengeshayi of the transfer of the 15% of COMINIERE in DATHCOM Mining to ZIJIN Mining, the IGf had proved the opposite:
- The sale of COMINIERE's 15% stake in DATHCOM Mining to ZIJIN Mining was carried out in violation of the legal provisions on the withdrawal of the State from the companies in the Portfolio and caused, with regard to the assessments made in the study of feasibility, a significant shortfall for the Public Treasury estimated at US$116,560,000. It was a real sale of the State's mining heritage, for which you are responsible.
Would the US$6,800,000 be
kickbacks ?
- Out of the total amount of proceeds from the sale of 15% of the shares, which amounts to US$33,440,000, you have already used approximately US$6,800,000 for operating needs to the detriment of productive investments, including USD 5,438,198 $US for commissions, collations, fees, exceptional remuneration of all those who would have contributed to the operation.
On the sale of 5% of COMINIERE's shares in DATHCOM to MMS
- The presumed free and provisional transfer of 5% of COMINIERE's shares in DATHCOM Mining to DATHOMIR Mining Sarl, but which with regard to the transfer contract, was final and irrevocable without the income from the transfer being traced to COMINIERE.
The IGF considers in particular that there was a violation in the sale of 15% of the shares of COMINIERE to the Chinese of ZIJIN Mining Ldt:
“The control team maintains the observation, because the Managing Director ai is effectively content to cede the mining rights without first valuing them. Aware that the partnerships initiated do not really benefit the State-owner, the Managing Director ai is embarrassed to display the meager results he has obtained. He could therefore not prove the contrary.Remember that we are witnessing until today a total silence on the part of the government on the report of the IGFF. Is this a position taken by the Congolese government in favor of the Chinese ZIJIN Mining Ldt and against AVZ Minerals or the opposite?
