DRC: towards a relaunch of MIBA with government support

The Bakwanga Mining (MIBA), located in the Kasai Oriental province in central DR Congo, is among the priority projects that will benefit from the financial support of the government in 2022, according to an announcement made to the National Assembly by the Prime Minister Sama Lukonde when he presented the 2022 fiscal year finance bill, estimated at 10 billion USD.

In September 2020, the company had obtained funding of $ 5 million from the government to pay staff and strengthen production facilities. Already, on February 16, 2020, MIBA had obtained a pledge of funding of 200 million USD to revive mining, under an agreement signed with the Romanian firm AM Developments International, specializing in construction and mining. From these resources, a non-refundable check for USD 30 million had been remitted to MIBA to clear, in particular, the arrears of salaries of the agents and workers in office.

MIBA was also to regularize the situation with the Canadian firm Saint Louis BGM SARL. The latter had disbursed USD 180 million to enable it to renew the production tool and improve the electrical energy supply to the Tshiala hydroelectric power station.

In early January 2021, MIBA announced that it had produced more than 40,000 carats of diamonds. From 1976 to 2008, it produced 208,595,707 carats of diamonds sold on the international market. Before the cessation of mining activities between November 2008 and March 2011.

LEAVE A REPLY

Please enter your comment!
Please enter your name here