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Jim Lobe
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Congo's MIBA In Talks With De Beers, BHP - Official
July 13, 2004 - 07:45 AM
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RAMAT GAN, Israel --The Democratic Republic of Congo's biggest diamond-mining company is in "very advanced negotiations" with mining heavyweights De Beers SA and BHP Billiton Ltd. (BHP) to develop concessions in the African country, said a top official at the company Tuesday.
Societe Miniere De Bakwanga, known as MIBA, is looking to secure partners to explore and develop the bulk of 78,000 square kilometers of concessions in the DRC, said Gustave Luabeya Tshitala, the company's president director-general, on the sidelines of a diamond conference in this suburb of Tel Aviv.
Currently only 40 square kilometers of territory is being mined by Congolese mining giant JFPI Corporation, but MIBA is willing to assign up to 26,000 square kilometers to any one mining company in order to boost the DRC's diamond production, Tshitala said. Despite the continued dominance of JFPI Corporation over the last decade, MIBA has ruled out giving concessions to just one company.
MIBA, which produces 7.5 million carats a year, is 80% owned by the DRC government, and 20% by Belgium company Sibeka. Sibeka, in turn, is 80% held by Belgian metals company Umicore SA (UMI.BT) and 20% held by De Beers.
De Beers is 45% owned by London-based Anglo American PLC (AAUK).
MIBA traditionally has focused on industrial diamonds but is now looking at mining gem-quality stones, Tshitala said.
The DRC was the world's sixth-largest diamond producer in 2003, with rough-diamond output totaling $700 million, according to De Beers.
A spokeswoman at BHP Billiton, the Anglo-Australian resources giant, wasn't able to confirm it is in talks with MIBA. De Beers officials weren't immediately available for comment.
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Tadoh
Joined: Mar 18, 2004
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Re: Congo's MIBA In Talks With De Beers, BHP - Official
July 14, 2004 - 12:57 PM
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Thank you for this informative post ONEWORLD
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