IMF Asks Congo for Explanation on State Mining Assets Sale
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The International Monetary Fund asked two Democratic Republic of Congo state-owned mining companies to explain recent unannounced asset sales at prices below their estimated market value.
Congo’s Gecamines sold its stakes in two mining projects run by Baer, Switzerland-based Glencore International Plc to companies associated with Israeli businessman Dan Gertler earlier this year, according to a Glencore prospectus published in May. Gecamines didn’t announce the deal publicly at the time.