MIBA’s Global Recovery Plan cost the DRC Government USD 161 million
The DRC government has exercised the option of no longer injecting money sporadically into MIBA, taking into account recent experiences where funds poured into this company from the state portfolio have yielded nothing. For the Sama Lukonde Government, it is rather necessary to implement a global MIBA recovery plan estimated at more than 161 million USD.
“As regards the relaunch of MIBA, I myself immersed myself in the dilapidated state of its production tool during my last stay in Mbuji-Mayi. The Government’s vision for this company, as for other public companies in the mining sector, is to make it a new, modern and profitable industrial company. A recovery plan exists for this purpose, with an overall cost estimated at 161,725,822 USD, including 35,315,469 USD for the first phase. It is therefore not by injecting 20 or 50 million that all the problems of the Miba will be solved”, declared Sama Lukonde, on Monday November 1, making his reply to the concerns raised by the national deputies on the 2023 Budget.
The Minière de Bakwanga was a gem of the mining industry in the Kasaï area. For more than two decades, MIBA has been floundering following the aging of its production tool and a disarticulated manager. This company is also faced with a high social debt.
