Actor: BUGF

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Code: 
BUGF
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Relaciones de este actor

ID Actor 1 Actor 2 Tipo Evidencia
43207 BUGF PR-IN-BU-GOTRKGCOC Political-Thwarting investment in mining operations "Mr. Forrest has used his position in the elite network in an attempt to control the mining sector in the Democratic Republic of the Congo, according to several reliable sources. For example, the Kinross Gold Corporation of Canada had sought to invest up to $1 billion in copper and cobalt mining operations, but was thwarted by interventions from Mr. Forrest and senior Government officials. The company returned to the Democratic Republic of the Congo late in 2001 as part of Kinross-Forrest Ltd., a company registered in the British Virgin Islands. A smaller Belgian-based company, Madsa, obtained the support of the World Bank and the United Nations Industrial Development Organization for a $20 million development package to build processing plants to service the mining sector: a smelter, an acid manufacturing plant and a cement factory. Mr. Forrest and his business allies have opposed this development, in part, it seems, because it would cut their profits from the current overpriced procurement contracts."
43204 BUGF COMEANMITRCOGC Economic-Pillaging- Looting shareholding revenues "Groupe George Forrest (GGF) in partnership with the United States-based OM Group currently runs one of the most profitable mining operations from the Democratic Republic of the Congo with only the most marginal benefit for the State mining company, Gécamines. Through this venture, the Scories du Terril de Lubumbashi (STL), also known as the Big Hill Project, Mr. Forrest and OM Group have secured access to a copper and cobalt stockpile which contains over 3,000 tons of germanium, a rare metal used in optical fibres, infrared lenses and telecommunication satellites. This stockpile, formerly the property of Gécamines, has a current market value of more than $2 billion. Although the shareholdings for the STL project are divided between OM Group (55 per cent), GGF (25 per cent) and Gécamines (20 per cent), the State company has been expressly excluded from the revenues derived from the germanium processing.Gécamines officials complain that OM Group and GGF have deliberately ignored the agreed technical plan for the STL project, which provided for two electric-powered refineries and a converter to be built adjacent to the copper and cobalt stockpile. This would have meant that all the germanium would have been processed within the Democratic Republic of the Congo, and Gécamines would have been entitled to a revenue share. Instead the semi-processed ore is shipped to OM Group’s plant in Finland where the germanium is extracted. The former Chairman of Gécamines, Mr. Forrest, whose construction companies built the STL project, has declined to intervene on behalf of the State company. Gécamines has rejected an offer by OM Group to cede the State company just 5 per cent of the revenues from the germanium processing in Finland".