Congo Awards Payments From Glencore Mine to Kabila’s Friend
- Gecamines sold royalty payments from Kamoto copper venture
- Deal offers no reason for payments, Global Witness says
Billionaire Dan Gertler has operated in Congo for almost 20 years.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
The Democratic Republic of Congo’s state-owned copper producer signed over millions of dollars in future payments to an offshore company owned by billionaire Dan Gertler, according to advocacy group Global Witness.
Congo’s Gecamines, which holds a 25 percent stake in the Kamoto project of Katanga Mining Ltd., instructed the Glencore unit in January 2015 to transfer the state mining group’s royalties to Africa Horizons Investment Ltd., Global Witness said Tuesday by e-mail. Africa Horizons is a unit of Gertler’s Fleurette Group.