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Vol 52 No 16

Published 5th August 2011


Mutatis mutandis

Mystery surrounds a sale by the state-owned Générale des Carrières et des Mines to a company linked to Dan Gertler, a close friend of President Joseph Kabila. Just three months before the elections, the deal is ringing alarm bells among opposition politicians. Officials have not formally announced the sale of a US$800 million stake in Gécamines’ Mutanda company or revealed where the proceeds have gone, let alone whether the sale of one of Congo’s most valuable copper mining projects involved competitive bidding. The beleaguered company loses one of its most valuable holdings and likely royalties of over $200 mn.

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