UK MP Eric Joyce Says Congo Loses $5.5 Billion Due to Shady Deals
Bloomberg news has reported that Congolese President in cahoots with Israeli businessman Dan Gertler have fleeced the Congolese people of $5.5 billion.
“Elements of the DRC government, in particular the current president, Joseph Kabila, have sold vast mining assets at knock-down prices to various offshore ‘shell’ companies,” Joyce said,citing documents in his possession.
State-owned Congolese copper and cobalt miner Gecamines sold its 20 percent stake in Glencore-operated Mutanda Mining Sprl to Rowny Assets Ltd., an entity “associated” with Israeli mining investor Dan Gertler, according to Glencore’s May prospectus. Biko Invest Corp., another Gertler-linked entity, bought a quarter of neighboring Kansuki Sprl, it said.
Gecamines said it received $137 million for the two stakes, while Mutanda alone may be worth more than $800 million, according to calculations using a valuation conducted by consulting firm Golder Associates in Glencore’s prospectus.
Click here to read press release from British MP Eric Joyce!
Click here to read press release from British MP Eric Joyce!
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