Deal #2012

Land area

Intended size

200 000 ha

Size under contract (leased or purchased area)

[1996, current] 200000.0 ha

Comment on land area

Concession 40 is a total of 10 000 square kilometers mining agreement. This includes exploration area and mining lease agreement of 2,000 square kilometers- This was the size in 1996. New exploration contract signed in 2010 granting 6000 square km for exploration.

Intention of investment

[current] Mining

Comment on intention of investment

gold cobalt and copper ore

Nature of the deal

Exploitation permit / license / concession (for mineral resources)

Negotiation status

[1996] Concluded (Contract signed)
[1997, current] Failed (Contract cancelled)

Comment on negotiation status

Ashanti Goldfields purchased half of the stake of KIMIN owned by Mindev in April 1996. The remaining portion of the stake of Mindev in KIMIN was acquired by Ashanti Goldfields in 1998 and the company’s name was changed to Ashanti Goldfields Kilo (SCARL) ("AGK"). New exploration joint venture was signed in 2010 with OKIMO. No operations underway as yet (2017).

Implementation status

[1997, current] Project abandoned

Comment on implementation status

As a result of civil war in the region in 1997, all mining operations in the Mongbwalu area were halted and the site handed over to OKIMO. In December 2004, as a result of the discussions held with DRC government officials and other parties, an exploration team was deployed at Mongbwalu and exploration drilling commenced in Concession 40 in January 2005.

Contract farming

No