May 31, 2020 / 8:49 AM / a month ago

Congo suspends board and management of state diamond miner MIBA

Diamonds are pictured in a file photo. REUTERS/Maxim Shemetov/File Photo

DAKAR (Reuters) - 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 Congo president’s office said following a council of ministers meeting on Friday.

It added that Congo’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.

Reporting by Hereward Holland; Writing by Bate Felix; Editing by Christina Fincher

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below