Gecamines Tag

Glencore’s mining subsidiaries in the Democratic Republic of Congo have been served freezing orders for alleged unpaid royalties amounting to nearly US$3 billion. The freezing order was served in the DRC by Ventora Development Sasu, a company affiliated with Israeli billionaire Dan Gertler. The firm is seeking...

Glencore has confirmed that the Democratic Republic of Congo’s state-owned mining company has begun legal proceedings to dissolve one of its subsidiaries because of a capital shortfall. In a company statement, the Anglo-Swiss commodities giant said it has ‘several options’ to address this shortfall at Kamoto...

Boosted by Chinese investment, the Democratic Republic of Congo’s state-ran mining company Gecamines has revealed plans to strengthen its waning position in the national mining industry. The company was heavily debilitated by the Congolese civil war, and remains to be straddled with debt, with the figure...