[miningmx.com] – GECAMINES, the state-owned copper and cobalt company of the Democratic Republic of Congo (DRC) had sold a mining concession to Glencore’s Mutanda with announcing the transaction, said Bloomberg News.
When the DRC failed to publish a similar deal in June 2011 the International Monetary Fund cancelled a $551m loan program to the country because it broke transparency conditions, said the newswire agency.
A May 2011 government decree requires the state to publish contracts for any cession, sale or rental of the state’s natural resources within 60 days of their execution.
The deal for the land, which is surrounded by Mutanda’s property, was concluded in February this year, said Bloomberg News citing a person familiar with the transaction.
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