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Gecamines of Congo Must Publish Asset-Sale Revenue, IMF Says
Sep. 30, 2011 11:02AM PST
Battery Metals InvestingBloomberg reported that the International Monetary Fund has said Gecamines has to publish the revenues and contracts related to its recent mining asset sales.
Bloomberg reported that the International Monetary Fund has said Gecamines has to publish the revenues and contracts related to its recent mining asset sales.
The market news is quoted as saying:
Gecamines sold its stakes in two mining projects run by Baar, Switzerland-based Glencore International Plc to companies associated with Israeli businessman Dan Gertler earlier this year. Gecamines didn’t announce the deals publicly at the time and has declined to publish full details of the sales or transfer the proceeds to Congo’s Treasury.
