DRC civil society groups raise alarm over sale of state mine assets
Civil society groups and an MP in the Democratic Republic of the Congo (DRC) are raising concerns that state-owned gold company Sokimo failed to follow an open and transparent bidding process before agreeing to sell its stakes in six gold assets, including 10% of the DRC’s biggest gold mine, Kibali, to Canada’s AJN Resources.
The criticism follows action by Barrick Gold to block the proposed sale to AJN, after AJN on February 6 said it had reached a memorandum of understanding with Sokimo. Barrick and AngloGold Ashanti each own 45% of Kibali, and Sokimo may not sell or transfer its Kibali stake without their approval...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.