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DRC
Asafo & Co bills Gécamines millions in extra fees

Paris law firm Asafo & Co should receive $9m in additional fees for its role advising Congolese state-owned mining company Gécamines in its negotiations with China Molybdenum Co (CMOC). [...]

Published on 26/10/2023 at 05:40 GMT Reading time 2 minutes

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Mining

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DRC
Asafo & Co
China Molybdenum Co
Gecamines
Glencore
Kamoto Copper Co
Pascal Agboyibor
Placide Nkala Basadilua
Tenke Fungurume Mining

DRC
Government on mission to improve state company governance

Portfolio minister Jean-Lucien Bussa Tongba is cracking down on the tensions between the chief executives and board chairs of state companies, which are affecting their results. On his list is a clarification of their responsibilities and a first assessment of their compliance in November.

Subscribers only Mining, Politics 18.10.2024

DRC portfolio minister, Jean-Lucien Bussa Tongba, during the third Turkey-Africa Economic and Business Forum in Istanbul on 21 October 2021.

DRC
Gécamines racks up hefty mission expenses bills

The DR Congo state-owned mining company has since April 2023 been using the services of a travel agency called Malabar Business Travel, which has billed it for several million dollars.

Subscribers only Finance, Mining 02.10.2024

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

Gécamines' board of directors voted to pay a 5% bonus to the members of the committee that negotiated a $1.6bn deal with China's Tenke Fungurume Mining.

Subscribers only Mining, Business 15.01.2024

Gécamines' headquarters in Lubumbashi, DRC, on 16 January, 2021.

DRC
New mining register boss cracks down on private permits

Popol Mabolia Yenga, who took up his new duties as the head of the DRC’s mining register authority CAMI on 3 August, has adopted a hardline stance towards private citizens holding mining permits.

Subscribers only Mining 30.10.2023

DRC
Gecamines executives suspected of embezzling $10m

Breaking news published on 24/10/23 at 16:01 GMT - According to a document that Africa Intelligence has seen, state auditors suspect 30 Gecamines managers of embezzlement.

Subscribers only Mining 24.10.2023

Gécamines' headquarters in Lubumbashi, DR Congo.

Spotlight | DRC
There's more to Gécamines' record performance than meets the eye

The state-owned company had revenue of around $1bn in 2022, even though its own production has been on the wane for years. Gécamines' directors are exploring new avenues to revive the mining of "strategic" minerals.

Subscribers only Mining 01.09.2023

Gecamines' Shituru hydrometallurgical facility, which processes copper and cobalt, outside Likasi in the southern region of Katanga, on 31 January 2013.

DRC
China's MMG Kinsevere launches arbitration against Gécamines

China Minmetals' DR Congo subsidiary MMG Kinsevere has launched an arbitration procedure in Paris against its partner, Gécamines. It wants $145m from the state-owned company, which it claims is blocking the expansion of its Kinsevere mine.

Subscribers only Mining 19.04.2023

DRC
Albert Yuma's young guard take helm of DRC's Gécamines

The state miner's new chairman and general managers appointed by Kinshasa to give Gécamines a new lease of life were all in the good books of the firm's all-powerful former boss Albert Yuma Mulimbi. They also each worked at one time for private mining firms operating in DRC, such as AngloGold and Glencore.

Subscribers only Mining 08.03.2023

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DRC
Asafo & Co
China Molybdenum Co
Gecamines
Glencore
Kamoto Copper Co
Pascal Agboyibor
Placide Nkala Basadilua
Tenke Fungurume Mining

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DRC
Asafo & Co bills Gécamines millions in extra fees

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Set up email notifications for these topics

DRC
Government on mission to improve state company governance

DRC
Gécamines racks up hefty mission expenses bills

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

DRC
New mining register boss cracks down on private permits

DRC
Gecamines executives suspected of embezzling $10m

Spotlight | DRC
There's more to Gécamines' record performance than meets the eye

DRC
China's MMG Kinsevere launches arbitration against Gécamines

DRC
Albert Yuma's young guard take helm of DRC's Gécamines

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Indigo Publications' websites

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DRC Asafo & Co bills Gécamines millions in extra fees

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Set up email notifications for these topics

DRC Government on mission to improve state company governance

DRC Gécamines racks up hefty mission expenses bills

Spotlight | DRC IGF opposes Gécamines over mega-bonuses worth €40m

DRC New mining register boss cracks down on private permits

DRC Gecamines executives suspected of embezzling $10m

Spotlight | DRC There's more to Gécamines' record performance than meets the eye

DRC China's MMG Kinsevere launches arbitration against Gécamines

DRC Albert Yuma's young guard take helm of DRC's Gécamines

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Libya
From Tripoli to Benghazi, Turkish trader BGN's oil odyssey

Senegal
Guns and oil drive Russia's Dakar courtship

DRC
Asafo & Co bills Gécamines millions in extra fees

DRC
Government on mission to improve state company governance

DRC
Gécamines racks up hefty mission expenses bills

Spotlight | DRC
IGF opposes Gécamines over mega-bonuses worth €40m

DRC
New mining register boss cracks down on private permits

DRC
Gecamines executives suspected of embezzling $10m

Spotlight | DRC
There's more to Gécamines' record performance than meets the eye

DRC
China's MMG Kinsevere launches arbitration against Gécamines

DRC
Albert Yuma's young guard take helm of DRC's Gécamines