117:
as key players in arranging the KMC deal with
Tremalt. According to the report, Tremalt had paid $ 400,000 for the rights to exploit six Gecamines concessions that held a total of 2.7 million tons of copper and 325,000 tons of cobalt. These concessions had an estimated value of over $ 1 billion. In a
154:, a Zimbabwean who had formed BOSS and now owned a share of CAMEC, would be excluded from ownership in the new company due to the hostile relations that had developed between him and the DRC government. The MOU to complete the deal was signed between CAMEC and Prairie International in November 2007.
92:
and
Kakanda. KMC made relatively low investment in these properties, continuing to operate the already-functioning Kamoya Mine but not opening the others. In March 2002 the DRC authorities took back control of the Kambove concentrator from Tremalt following a complaint by the manager of KMC against
88:, held 80% of KMC while Gecamines held 20% A network of private holding companies and trusts registered in the Isle of Man and the British Virgin Islands concealed the true owners of Tremalt. KMC gained the rights to mines, facilities and concentrators at
130:
brought a case against
Tremalt alleging illegal resource exploitation. However, the UK National Contact Point for the OECD blocked the case, saying it had been resolved by the United Nations panel. In June 2004 RAID withdrew the case.
75:
governments. Allegedly some of the payments were made in the form of military equipment. The company made few investments in its assets, several of which the DRC government took back. In 2006 it was sold for about $ 60m.
118:
private agreement, net profits would be divided 32% to
Tremalt, 34% to the DRC government and 34% to the Zimbabwe government. Tremalt undertook to supply military vehicles and cash in lieu of the profit share payments.
71:(DRC). It was the vehicle for a highly criticized deal in 2001 in which it bought copper assets at far below their estimated value in return for a private agreement to pay a share of profits to the DRC and
127:
450:
490:
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Gecamines at the
International Centre for the Settlement of Investment Disputes. In its 2003-year end report KMC claimed a cumulative loss of over USD$ 11 million in the first three years.
485:
480:
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142:, of which Dan Gertler’s family trust was a major shareholder. Tremalt owned 80% of Savannah Mining, which held concessions C17 and C18 in Katanga Province and 50% of the
84:
In
January 2001 the Kababancola Mining Company (KMC) was established as a copper and cobalt mining partnership for a 25-year term. Tremalt, initially controlled by
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317:
107:
Final report of the Panel of
Experts on the Illegal Exploitation of Natural Resources and Other Forms of Wealth of the Democratic Republic of the Congo
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42:
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460:
353:
301:
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318:"Govt and Zimbabwean illegal resource exploitation in the Democratic Republic of the Congo (Part of UN report)"
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470:
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64:
343:
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202:"Pillage des ressources minières de la RDC : les dessous de cartes de la compagnie KMC"
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project. The other 50% of
Mukonda was held by BOSS Mining, which in turn was 80% owned by
8:
110:
349:
297:
270:
150:(CAMEC). There were plans to combine the Mukondo assets into a new holding company.
151:
395:
134:
John
Bredenkamp sold Tremalt for about $ 60m to the Israeli-American businessman
85:
102:
444:
89:
143:
420:"CAMEC creates new DRC joint venture company to develop Mukondo Mountain"
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173:"Alleged Mugabe cronies kept offshore firms years after UN alert raised"
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369:
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A predictable tragedy: Robert Mugabe and the collapse of
Zimbabwe
451:
Copper mining companies of the Democratic Republic of the Congo
491:
2006 disestablishments in the Democratic Republic of the Congo
486:
2001 establishments in the Democratic Republic of the Congo
481:
Non-renewable resource companies disestablished in 2006
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476:
Non-renewable resource companies established in 2001
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235:"Copper/cobalt bull elephants square up in the DRC"
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269:. University of Pennsylvania Press. p. 216.
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262:
148:Central African Mining & Exploration Company
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393:
232:
196:
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43:Central African Mining and Exploration Company
345:The battle for Zimbabwe: the final countdown
189:
341:
208:(in French). March 9, 2006. Archived from
396:"CAMEC enters new JV to house DRC assets"
63:was a mining company incorporated in the
320:. Afrol. 16 October 2002. Archived from
128:Rights and Accountability in Development
79:
170:
443:
138:in 2006. In 2007 Tremalt was owned by
121:
109:. The report named Brigadier General
13:
97:United Nations investigation, 2002
14:
502:
241:. United Nations. Archived from
171:Garside, Juliette (2016-04-06).
69:Democratic Republic of the Congo
53:Democratic Republic of the Congo
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293:Africa South of the Sahara 2004
387:
362:
335:
310:
283:
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1:
394:Allan Seccombe (7 Nov 2007).
233:Barry Sergeant (6 May 2007).
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290:Europa Publications (2003).
7:
10:
507:
296:. Routledge. p. 275.
67:which owned assets in the
263:Daniel Compagnon (2011).
140:Prairie International Ltd
48:
37:
29:
21:
461:Defunct mining companies
456:Cobalt mining companies
115:Mike Tichafa Karakadzai
466:Copper mines in Zambia
348:. Zebra. p. 225.
65:British Virgin Islands
80:KMC acquisition, 2001
101:In October 2002 the
342:Geoff Hill (2003).
324:on 15 December 2007
18:
471:Corporate scandals
370:"RAID vs. Tremalt"
245:on 2 November 2011
122:Subsequent history
113:and Air Commodore
111:Sibusiso Busi Moyo
16:
276:978-0-8122-4267-6
239:Mining Newsletter
126:The UK-based NGO
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152:Billy Rautenbach
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86:John Bredenkamp
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61:Tremalt Limited
17:Tremalt Limited
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376:. 28 June 2004
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206:The Conscience
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105:published the
103:United Nations
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33:November 2007
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428:. Retrieved
426:. 7 Nov 2007
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326:. Retrieved
322:the original
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247:. Retrieved
243:the original
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214:. Retrieved
210:the original
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180:. Retrieved
177:the Guardian
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49:Headquarters
41:Merged into
136:Dan Gertler
445:Categories
430:2011-11-14
405:2011-11-14
380:2011-11-14
374:OECD Watch
328:2011-11-14
249:2011-11-14
216:2011-11-14
182:2022-05-30
158:References
400:MiningMX
73:Zimbabwe
22:Industry
424:MineWeb
144:Mukondo
90:Kambove
30:Defunct
352:
300:
273:
25:Mining
350:ISBN
298:ISBN
271:ISBN
38:Fate
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