ASA Faces $12 Million Funding Call as DRC Moves to Revive MIBA
ASA Resource Group Asked to Invest $12 Million to Retain 20% MIBA Stake
British mining company ASA Resource Group Limited faces a $12 million capital call from the Democratic Republic of Congo’s state-owned diamond producer, Société Minière de Bakwanga (MIBA), as the company seeks to preserve its 20% stake in the struggling miner.
MIBA has asked ASA to contribute approximately 27.5 billion Congolese francs, equivalent to about $12 million, as part of a major capital increase aimed at financing the company’s turnaround.
The capital increase will raise MIBA’s share capital by approximately 137.54 billion Congolese francs ($60.7 million).
The DRC government, which owns 80% of MIBA, is expected to provide around $48.6 million, while ASA’s contribution represents its proportional share.
The capital injection forms part of the government’s efforts to revive MIBA and strengthen its financial position after years of operational and financial challenges.
The transaction was approved at an extraordinary general meeting on February 6, 2026, while the board approved the implementation terms on March 2.
ASA has been asked to subscribe in proportion to its existing ownership to maintain its 20% interest in MIBA. Failure to participate would expose the British company to dilution.
The subscription period runs from July 27 to August 27, 2026, with ASA required to pay the full amount and provide proof of payment as part of the subscription process.
The capital increase is designed to provide MIBA with fresh funding as the DRC seeks to revive one of its historically important diamond producers.
MIBA has faced years of financial difficulties and declining production, limiting its contribution to the DRC’s diamond industry.
The new capital is expected to support efforts to restore operations and improve the company’s financial and productive capacity.
For ASA, maintaining its stake would preserve its exposure to MIBA’s potential recovery, while failing to contribute could reduce its ownership position.
As of the latest available information, ASA has not publicly confirmed that it has accepted the capital call or transferred the required funds.
The outcome of the subscription process will therefore determine whether ASA retains its current 20% position as MIBA moves ahead with its recapitalisation and turnaround strategy.
