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作者: 来源: 日期:2016/11/28 8:56:40

Gecamines woos Chinese investors for Congo mining projects





The chairman of Gecamines, the state-controlled mining company in the Democratic Republic of Congo, has outlined ambitious plans to partner with Chinese investors to ramp up production of copper and other commodities in the resource-rich African country.



Albert Yuma Mulimbi told the Financial Times he was dissatisfied with most existing joint ventures involving western mining companies, and claimed they had failed to generate adequate returns for Gecamines.

艾伯特•尤马•穆林比(Albert Yuma Mulimbi)告诉英国《金融时报》,他对现有大多数跟西方矿业公司组建的合资企业感到不满,称它们未能为Gecamines带来足够高的回报。


Gecamines is proposing to use a partnership with China Nonferrous Metal Mining Group to develop a major new copper mine as a blueprint for future joint ventures with other Chinese companies or overseas investors.

Gecamines提出,为了开发一座新的大型铜矿而与中国有色矿业(China Nonferrous Metal Mining)组建的一家合资企业,可以作为未来与其他中国企业或海外投资者组建合资企业的范本。


Mr Yuma said Gecamines was seeking to lift production at projects involving the company to more than 100,000 tonnes of copper a year by 2018, compared with less than 20,000 in 2015. As well as being home to 10 per cent of the world’s copper reserves, the DRC is also a major source of cobalt, widely used in so-called superalloys and lithium ion batteries.



We want to become again, as in the past, one of the biggest players in copper and cobalt,” said Mr Yuma in an interview with the Financial Times.



After the country’s mining sector was nationalised in the 1960s by the then dictator Mobutu Sese Seko, Gecamines became a major industry force, producing almost 500,000 tonnes of copper each year during the mid-1980s.

1960年代,该国的采矿业被当时的独裁者蒙博托•塞塞•塞科(Mobutu Sese Seko)收归国有。之后,Gecamines成为了一支重要的行业力量,在1980年代中期的年度铜产量接近50万吨。


But the company came close to collapse during the final years of Mobutu’s rule, which ended in 1997.



Mr Yuma said the DRC had been told in the early 2000s by international bodies such as the World Bank and the International Monetary Fund to sell assets to overseas mining companies that would develop the projects and pay dividends and other income streams to the country.

尤马表示,在21世纪初,世界银行(World Bank)和国际货币基金组织(IMF)等国际机构建议刚果民主共和国向海外矿业公司出售资产,后者将开发矿业项目,向该国提供红利和其他收入。广州投资翻译公司。


This left Gecamines with minority interests in major DRC mines, with western companies such as Freeport-McMoRan of the US, Switzerland’s Glencore and Canada’s Ivanhoe Mines having controlling stakes and operating the projects.

这导致Gecamines在国内各大矿业项目中持有少数股权,而西方公司——如美国的自由港迈克墨伦(Freeport-McMoRan)、瑞士的嘉能可(Glencore)和加拿大的艾芬豪矿业(Ivanhoe Mines)——持有控股股份,并作为项目作业方。


But Mr Yuma complained that existing deals with international companies had failed to generate dividends for Gecamines, which is burdened with almost $1.5bn of debt.



We don’t have dividends and all the revenue is exported and transferred,” he said. “So this kind of business is not good any more.”



Gecamines is embroiled in a legal dispute with Freeport over Tenke Fungurume, the DRC’s largest copper mine, where the two companies were partners.

眼下,Gecamines与自由港在Tenke Fungurume铜矿问题上深陷法律纠纷。两家公司在刚果民主共和国的最大铜矿项目中曾是合作伙伴。广州投资翻译公司。


Freeport announced plans in May to sell its controlling stake in Tenke to China Molybdenum.

今年5月,自由港宣布了把自己在Tenke Fungurume所持的控股股份出售给洛阳钼业(China Molybdenum)的计划。


Last week the deal was completed after Canada’s Lundin Mining, which owns 24 per cent of Tenke, said it had agreed to sell its stake to BHR Partners of China for $1.1bn.

最近,在拥有Tenke 24%股权的加拿大伦丁矿业(Lundin Mining)表示已同意将其股权以11亿美元出售给中国的渤海华美(BHR Partners)之后,这笔交易已完成了。


Gecamines, which owns 20 per cent of Tenke, said the deals involving Freeport and Lundin ignored its pre-emptive rights to buy the stakes.

拥有Tenke 20%股权的Gecamines表示,自由港和伦丁矿业的交易忽视了其买断股权的优先权利。


Gecamines has taken its case to an international court in Paris in an attempt to block the Freeport deal.



We’re not blocking the Chinese,” said Mr Yuma, who claimed Gecamines had financial backing to buy Freeport’s stake. “We are blocking Freeport who want to sell without respecting our rights.”



Meanwhile, in an effort to secure dividends and royalties from existing mines involving overseas companies, Gecamines is planning to audit all major projects in the DRC to see whether it has been treated fairly as a minority investor.



We are conducting various audits in all the joint ventures we have because, I am sorry to say, generally speaking we are not happy with most of them,” said Mr Yuma.



He added the new partnership with China Nonferrous Metal Mining — under which the Chinese company has agreed to spend $2bn to build and operate a copper processing facility in the mineral-rich Katanga province — could be a suitable model for future joint ventures.



China Nonferrous Metal Mining will have a 51 per cent stake in the facility, with Gecamines holding the remainder, and Mr Yuma said the Chinese company would have its investment repaid through copper sales. Once this was done, he added Gecamines would aim to secure control of the project, suggesting that would happen within eight to 10 years.



That’s the new vision,” he added, indicating Gecamines initially wanted stakes as high as 49 per cent in future joint ventures, rather than the smaller ones it has in existing partnerships with overseas mining companies.



If you are not ready to do that . . . we’ll pull you out, push you out and if we have to fight in court to have a decision, we’ll do it,” he said.



Analysts said Mr Yuma’s ability to execute his plan to increase production of copper and cobalt in the DRC could be hampered by the country’s political crisis.



Joseph Kabila, president, was due to step down this December but elections have been delayed until April 2018, raising tensions in the country. Angry opposition parties have promised to escalate their protest movement if Mr Kabila clings to office.

该国总统约瑟夫•卡比拉(Joseph Kabila)原定今年12月下台,但现在选举已被推迟到20184月,这加剧了该国的紧张局势。愤怒的反对党承诺,如果卡比拉拒不下台,他们将升级抗议运动。


Campaigners have called on Gecamines to be more transparent and also question whether the company can raise financing for projects.



They are a black box in the middle of the Congolese mineral system,” said Nathaniel Dyer of Global Witness. “They haven’t been able to demonstrate on a large scale the ability to carry out these copper projects themselves. They would need to massively up their game in terms of corporate governance.”

“他们是刚果采矿体系中的一个黑匣子,”全球见证(Global Witness)的纳撒尼尔•戴尔(Nathaniel Dyer)说。“他们无法大规模地展示自己具有实施这些铜项目的能力。他们需要大幅度提高公司治理水平。”


Freeport and Lundin declined to comment on Mr Yuma’s complaint about dividends.



However, one person familiar with Tenke said it had not paid dividends because the mining companies needed to recover their costs and the funds invested in the project. He added the companies had paid taxes and other monies for exploration to the DRC.



Glencore declined to comment. While its DRC operations have not issued a dividend, last year Glencore paid $600m in taxes and royalties to the country.



Ivanhoe was not immediately available for comment.



Additional reporting by John Aglionby and Tom Burgis

约翰•阿格里昂比(John Aglionby)和汤姆•博格斯(Tom Burgis)补充报道