Sub-Sahara Mining & Industrial Journal
Mining

DRCongo suspends board and management of state diamond miner MIBA

The Democratic Republic of Congo has suspended the board of directors and management of state-controlled diamond mining company MIBA, after an audit revealed significant irregularities, the government said in a statement.

The audit identified a host of problems including compliance, governance, production and financial management, the statement by DRCongo president’s office said following a council of ministers meeting on Friday.

It added that the country’s mines ministry will propose measures to revamp the company.

Founded in 1961, MIBA was formerly a jewel in minerals-rich Congo’s minerals industry, with gold, nickel and cooper in its portfolio. However, years of mismanagement, illegal mining, smuggling, and political instability have hobbled the company.

Related posts

Saudi strategy will make KSA a mining hub, industry pundits believe

Mining_Editor

Kenya: Large Scale Gold Mining to Start in Kakamega in 2022

Mining_Editor

Share on Twitter Share via Email Print this page Africa Miners Find Huge Diamond in Botswana, Could Be World’s 3rd-Largest

Mining_Editor

Leave a Comment