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Vol 3 (AAC) No 9

Published 1st July 2010


Take the diamonds and run

A fly-by-night Indian company registered in Hong Kong has packed its bags and disappeared after mining diamonds and not paying taxes for more than four years. Kasaï Oriental's Direction Provinciale des Recettes (DPR) and the parastatal diamond mining company Société Minière de Bakwanga (MIBA) are struggling to hold the Société Minière du Sankuru to account and have since seized company property in an attempt to collect back taxes, but the SMDS executives are long gone. SMDS is a joint venture between the Indian-owned Indo Afrique Mining, which holds a 51% stake, and MIBA, which has 49%. SMDS is represented by an Indian national, Hiren Bhanu.

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