A delegation from the DRC Presidency visits Kinsevere MMG
On March 14, 2022, Kinsevere hosted a delegation from the Office of the Head of State of the DRC and Gécamines to assess the public-private partnership between Gécamines and MMG. Kinsevere has a farm-out contract with Gécamines for 3 mining permits which are currently in progress.
The delegation was made up of 6 people, 4 from the Presidency and 2 from Gécamines. Mrs. Annie Maboya and Mr. Jean de Dieu Bangana, Advisors to the Director of Cabinet of the Head of State in charge of the portfolio, Mr. Jean-Claude Mukanya – Advisor in charge of the Gécamines partnership at the ministry of the portfolio and Mrs. Fidèle Kapinga – Advisor in charge of legal matters. Mrs. Justine Muganza, and Mr. David Cyprien Kakonge are senior representatives of Gécamines.
Mr. Weiquan Xia, Managing Director of Kinsevere, welcomed the guests and gave them an overview of the company by discussing MMG’s current project and the intention of China Minmetals, the majority shareholder, to migrate to mining the cobalt and sulfide copper. He stressed the importance of this investment, which will extend the life of the mine by increasing production and thus creating new job opportunities for Congolese.
The delegation also had the opportunity to discuss directly with the entire management team and for the site, to understand the main considerations of the country’s high authorities.
The main topics of discussion revolved, among other things, around the management of the evolution of turnover, share capital, risk management, the issue of refundable VAT, compliance with the law on local subcontracting and the level of community investment.
The delegation also visited the SX-EW plant as well as some social facilities in Kifita village – along the main access road to the mine – such as the school, the community market, the depot, the pits water and a project under construction of the new health center.
Kinsevere has been a major contributor to the Congolese economy since 2012 in the form of various economic contributions.
