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Democratic Republic of Congo is looking for new buyers of gold from its eastern territories after taking full control of Primera Gold which had an exclusive contract to buy and sell gold mined in the east, the company’s head said.
UAE-based Primera Group recently sold its stake in Congo-based Primera Gold, which had been a joint venture with the government, ending a controversial arrangement where it had been granted sole rights to trade gold dug by small producers or so-called artisanal miners in eastern Congo.
Primera Gold, now wholly owned by the government, is keen to invite other investors to buy the gold, its director-general, Joseph Kazibaziba, told Reuters on Tuesday.
“We are very open to new buyers, we have been criticized for being exclusive,” he said. “We are even interested in finding buyers in Europe.”
Congo’s deal with Primera, signed in 2022, was touted as a way to clean up the country’s artisanal mining sector, where smuggling has led to the loss of millions of dollars in tax revenue each year and helped fund armed groups destabilizing the mineral-rich east.
The contract gave Primera Gold a majority share in two joint ventures with exclusive rights to export artisanally mined gold at a preferential rate of 0.25%.
Watchdog ‘Le Congo n’est pas a vendre’ (Congo is not for sale), a group of 14 Congolese and international organizations that push for transparency in the mining and financial sectors, has said the government needs to provide clarity on why Primera stepped away from the contract and called for an investigation.
Primera Group’s corporate license in UAE expired in March, according to government records.
Primera Group did not respond to a request for comment. A Congo government spokesperson also did not respond to a request for comment.
Primera Gold has recently faced challenges buying gold in eastern Congo due to illicit traders who smuggle the mineral to Burundi, Uganda and Rwanda and are willing to pay more, according to a UN Security Council Report released in June.
The report said that Primera Gold’s exports had declined to 164 kilograms of gold a month in March 2024 from a monthly average of 500 kilograms between May and October 2023.
(By Felix Njini; Editing by Susan Fenton)
8 Comments
Geneva Muta
Anyone interested in minerals from the Congo, gold, diamond, especially Gold from Kivu, Katanga region, just contact me and I will make the transaction happen.
Louis
Hi what is your email address so we can talk further?
IRENE LENGAU
I am interested to know more about selling of mine as it was mentioned that Congo needs new buyers for Gold mined in Eastern Province
I am in south Africa
Contact number: 081 505 6647
Daniel Padwa
I have buyers from Europe
Morton spratt
It looks good
Makori Asati
Congo government must own all its resources on behalf of its citizens. Like the way Saudi Arabia owns it’s oil. It’s actually sabotage for a government to prioritize it’s natural resources. It’s like surrendering it’s sovereignty to private identities. It will make the government very weak and not able to provide for its citizens. As a government which does not control own and control it’s resources is a very weak government at the mercy of private individuals especially foreigners. NATIONALIZE EVERYTHING THAT IS RIGHTFULLY STATE PROPERTY. A government may hire expertise, from time to time, at a percentage which must be less than 2% for management.
Caleb T Mbikayi
I’m Mr Caleb Tshiala Mbikayi I’m an USA citizen originally from the Congo DRC, born in province of Mbuji-mayi in 01/25/1981 I’m living in Denver Colorado, last year I was traveling to my country for mining’s business development which I do have allowed to exploit the minerals as a business man I applied for a artisanal documentation in order to exploit the mineral with my on cooperative end all the autorisation documents everything was good but I do have getting some obstacles from the fact family members of the government who tried to stop me doing my business easily as an government allowed me to do, so am very disappointed with this situation that I have been losing more money during one year with out profit, I do ask to the government to help as when we are coming to our country with a project like business the can trust as and help us to do everything we need to do because many of ours brother who’s been working or living in the artisanal mining there can gets a job also for feeding there family end ather
Shakon Sholongo
I will like to buy gold