Gecamines of Congo Must Publish Asset-Sale Revenue, IMF Says

Gecamines, the Democratic Republic of Congo’s state-owned copper-mining company, must publish contracts and revenue from recent asset sales under the terms of a government economic program backed by the International Monetary Fund, the multilateral lender said.

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.