CONTACTS: In Atlanta, Deanna Congileo, dcongil@emory.edu
In Kinshasa, Diane Lamberg-Liszkay, fod.tcckin@gmail.com, +243 823-576-595
ATLANTA…Â鶹´«Ã½ urges the government of the Democratic Republic of Congo (DRC) to ensure that all transactions and revenue flows of state-owned mining companies, particularly La Générale des Carrières et des Mines (Gécamines), are carried out in a transparent manner that safeguards the public interest.
Gécamines' intention to sell its stake in the Kamoto Copper Company is similar to recent sales of undervalued state assets that have already cost the DRC over a billion dollars. Further, the decision to transfer remaining shares in joint venture mining companies to a Gécamines subsidiary in Mauritius risks diverting fiscal benefits from the Congolese people while further limiting public oversight of revenues from Gécamines operations.
"I am deeply concerned that this lack of transparency is not in the interest of the Congolese people as it will further limit the country's social and economic development," said former U.S. President Carter. "It is essential that the government's efforts to improve mining governance include compelling state-owned mining companies to meet international standards of transparency and accountability."
The government should enforce timely contract disclosure and accurate reporting of revenue flows. These steps are necessary to close the gap between the nation's mineral wealth and that of its citizens.
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"Waging Peace. Fighting Disease. Building Hope."
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