[miningmx.com] – THE Democratic Republic of Congo (DRC) received $10m after selling a 30% stake in a copper prospect to Glencore’s Mutanda Mining, said Bloomberg News in an article republished in Business Report.
The disclosure was after the Congolese was criticised by the Carter Center for its lack of transparency after the transaction was given publicity by Bloomberg News.
The International Monetary Fund had withheld funds from the DRC in the past owing to its lack of transparency over dealings in its mining industy.
A joint-venture between the DRC’s state-owned copper and cobalt mining house – Gecamines – and Dino Steel sold the Chabara mine permit to Mutanda on February 18 as it was “overrun in a permanent way’ by independent diggers and therefore difficult to develop, said Bloomberg News citing Gecamines.
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