Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border

Oil production on Lake Albert.
Oil production on Lake Albert.

The Democratic Republic of Congo is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company.

The Congolese government has talked to Tullow Oil Plc about purchasing a stake in the Lake Albert licenses along the country’s border with Uganda, said four people with knowledge of the discussions. Total SA and Eni SpA had also showed some interest, two of the people said.

Continue reading “Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border”

Israeli billionaire miner added to US sanctions list for Congo ties

Dan Gertler

David Pilling in London

Dan Gertler, an Israeli billionaire invested in the Democratic Republic of Congo’s mining sector, has been added to a US Treasury’s list of individuals under sanction, potentially squeezing his ability to conduct further business. In an executive order signed by President Donald Trump, the Treasury included Mr Gertler in a list of 13 people it Continue reading “Israeli billionaire miner added to US sanctions list for Congo ties”

Billionaire Gertler Loaned Gecamines $196 Million for Congo Mine

Dan Gertler

Billionaire Dan Gertler’s Fleurette Group said it loaned Gecamines $196 million so the Democratic Republic of Congo’s state-owned mining company could take over what it called its “flagship” copper project last year.

Gecamines used the funds to take full control of the untapped Deziwa and Ecaille C mining concessions, Fleurette said yesterday in an e-mailed response to questions. The areas contain an estimated 4.85 million metric tons of copper and 401,900 tons of cobalt reserves, placing them among Congo’s biggest metal Continue reading “Billionaire Gertler Loaned Gecamines $196 Million for Congo Mine”

Mining investor says Congo is cleaning up its act

congo coper mine

 

 

 

KINSHASA – Democratic Republic of Congo has improved its business environment but plans to raise mining taxes could deter investors in a country where massive infrastructure challenges remain, the CEO of a major foreign miner said.

Pieter Deboutte, manager of the Fleurette company that holds Israeli billionaire DanGertler’s mining and oil interests in Congo, said Prime Minister Augustin Matata Ponyohad made progress in tackling corruption and improving government administration. Continue reading “Mining investor says Congo is cleaning up its act”

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