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Kibali (DR Congo) (AFP) - DR Congo, one of the world's biggest gold producers, formally opened one of the continent's largest gold mines in the far northeast of the country.

Production at the Kibali mine started in the third quarter of 2013 but Mining Minister Martin Kabwelulu on Friday attended an official ceremony in the Province-Orientale region.

Kibali Goldmines, which develops the mine, is a joint venture 45 percent owned by South African mining firm Randgold Resources, with another 45 percent stake held by South Africa's AngloGold Ashanti and 10 percent by the Congolese state.

The $2.5-billion project reportedly created 7,000 jobs, 80 percent of them held by Congolese.

Kibali Goldmines said the mine should have reserves until 2031, with 550,000 ounces (15.6 tonnes) of gold expected to be produced this year.

The mine is thought to have reserves of 11.6 million ounces (329 tonnes) of gold but could be higher.

DR Congo has massive resources of gold, copper and cobalt but also diamonds, iron, nickel, manganese, bauxite, uranium and cassiterite, the most important source of tin. However most of the country's people live in poverty.

Control over the mineral-rich areas is one of the factors in the conflicts that have raged in eastern DR Congo for decades.
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90% owned by foreign thieves S.A companies and 10% by DRC government thieves parastatal . That 10% is to ensure the tax papers are "looked" after and things run smoothly.

If anyone has been wondering about the deployment of South African defense forces to "help" the people of DRC, here is one of your answers :eek:kay:
 

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90% owned by foreign thieves S.A companies and 10% by DRC government thieves parastatal . That 10% is to ensure the tax papers are "looked" after and things run smoothly.

If anyone has been wondering about the deployment of South African defense forces to "help" the people of DRC, here is one of your answers :eek:kay:
This need to be revised as soon as tomorrow. 10%??? If I was in the parliamant the mining code should always be 60% to the investors (companies), 25% goes to the local population and 15% goes to the national tax. Even in my dreams this will never happen though.
 

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This need to be revised as soon as tomorrow. 10%??? If I was in the parliamant the mining code should always be 60% to the investors (companies), 25% goes to the local population and 15% goes to the national tax. Even in my dreams this will never happen though.

This is very unfortunate but we must realize that in capitalism, share-ownership is based how much money an entity brings to the table at the start of operations. If you bring nothing at the start, you get nothing as far as share-ownership is concerned. That 10% given to government is just a freebie! That's how capitalism functions. Gold is just a raw material like any other such as coffee, oil, etc...

You still have the option to nationalize but it has its drawbacks. If willing to overcome them, then you just nationalize.
 

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A l’occasion de l’inauguration d’une usine d’or à Doko en Province Orientale, le président du comité de gérance de Kibali Gold Mine, Mark Bristow, a déclaré que son entreprise payait ses royalties conformément aux lois congolaises. Cette question des royalties divise depuis plusieurs mois la Sokimo et Kibali Gold Mines. La Sokimo accuse Kibali de ne pas payer les royalties alors qu’elle lui a cédé des gisements d’or en Ituri en mars 2009.
Mark Bristow assure pourtant que son entreprise paie des royalties pour les gisements d’or acquis il y a quatre ans. « Nous disons simplement que les royalties, nous les payons à l’Etat congolais conformément aux lois qui existent. Et nous continuons à travailler fortement en fonction des contrats que nous avons », explique-t-il. Mark Bristow affirme que Kibali est « très content » de travailler avec la Sokimo.
Mais, poursuit le président du comité de gérance de Kibali Gold Mine, « si la Sokimo veut que nous allions encore dans d’autres contrats qui peuvent être négociés différemment, nous sommes tout à fait à l’aise d’en discuter ».
Mark Bristow souligne cependant que son entreprise ne va pas changer les contrats qui la lient actuellement à la Sokimo.
Au sujet de l’usine d’or inaugurée à Doko, le président du comité de gérance de Kibali indique qu’elle a coûté 2,2 milliards de dollars américains. « Si nous comptons le coût d’acquisition, nous montons à 2,7 milliards de dollars américains », précise-t-il.
Kibali Gold Mine doit produire cette année 18 tonnes d’or. A en croire Mark Bristow, cette production annuelle va augmenter graduellement jusqu’à atteindre au moins 22 tonnes d’or.
Source: Radio Okapi
 
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