Congo's $6 billion China mining deal 'unconscionable', says draft report
DAKAR (Reuters) - Democratic Republic of Congo should renegotiate its $6 billion infrastructure-for-minerals deal with Chinese investors, according to the draft of a report commissioned by a global anti-corruption body of governments, companies and activists.
The draft, seen by Reuters, describes the deal that was first signed in 2008 as "unconscionable" and urges Congo's government to cancel an amendment signed secretly in 2017 that sped up payments to Chinese mining investors and slowed reimbursements of investment in infrastructure.
The final report is expected to be released this month by the Extractive Industries Transparency Initiative (EITI), which tracks revenue flows in the oil and mining sectors and counts more than 50 countries, including Congo, as members.
The report has no legal force but, if the draft's main conclusions remain, it could bolster Congo's push to secure more favourable terms from mining contracts with Chinese investors.
https://www.msn.com/en-us/money/companies/congo-s-6-billion-china-mining-deal-unconscionable-says-draft-report/ar-AAPgFHp
Seems like colonialism is still present.
= new reply since forum marked as read
