[quote author=blueAgent post=99568795][/quote]

Nnpc holds 60% JV/ Contributory. But how many times do they pay up? However, u cant deny them their equity. Sonangol is a bit more hands on. But the same thing. U cant withhold payments.

The 5% is not even always enforceable. Some companies are leaving the country with 100%. When Kabila struck the deal with tshisekedi he took control of mining finance and security... who does that ? And ppl like Gertler and glencore keep caking ?

Can Ibb or obj or jonathan pocket nnpc money out of power as a matter of right vs buhari ? U know what I mean ? Congo is almost 90 million ppl with a 50 billion usd economy. Africa is poor yes, but 50 billion gdp (all activity) on almost 100 million ppl... mediocre.

Let us know that the elite r stealing money and hold them for it. Not the one where they're not even chopping it and the real choppers are abroad.

U saw the senegal BP deal ? Some romanian dude is essentially playing the role that arthur eze adenuga or danjuma will play here.

How do u go after him ? Will he spend a dime or invest a dime in ur economy ?

Congo shld be shoulder to shoulder with Naija.

Mountain of gold?

Whytelyon:


Yea, Read about Tanzanite stones. One of the stones which is Rare and very expensive, Its found in back yards of several Tanzanians, they have everything , very beautiful country, drop dead gorgeous very beautiful women, food is cheap, everything. Yet i no understand watin day do africa.
Its sad my brother. very Sad. Congo own, na God sha go help them.

God help all africans sir, the way GOD has favoured africa i am even having 2 mindset about this katampe mountain in abuja that am seeing ryt now, should i explore or not?... lol

blueAgent:


You don't understand the 5% structure.

What it means is that the government can automatically own 5% of a project by law without contributing the equivalent value to the project.

Take for example in the link you shared, the project costs 1.8billion dollars that means the government of Congo is supposed to contribute 90million dollars as part of their stake, but according to the law they are not expected to contribute any money but are awarded 5% stake and revenue in the project.

5% might sound small but the government can make up with taxes and royalties.

I understand it very well and Im saying that those contractual terms are fishy. The mineral is on ur soil. U shld have 60 percent at least contributory. Whether u live up to the obligations or not is not an issue. Sovereignty is enough to get everyone to overlook the issue. Always postpone till the following year. The taxes are 10 percent and royalties are 30 percent or so. Quite low dont u think?

Now if 5 % operational stake can't be enforced, Gertler them will pay the taxes. ? Bro? and u know the effective tax rate is literally somewhere around 5 %. Because these fees dont even get paid. Due to personalization of power among the oligarchs. There's several studies out there about the effective accruals being literally around 5%. If u look u will see. Just showed u official figures. Look at how ridiculous those figures are, 5 % really ?

Even Naija forming 60 % jv and 66 to 85 percent pet profit taxes (depending on whether within or after 5 years) gets cheated. MNCs have better accountants and lawyers... so what does 5 % do

sam564:

God help all africans sir, the way GOD has favoured africa i am even having 2 mindset about this katampe mountain in abuja that am seeing ryt now, should i explore or not?... lol

Hehehehe..It is well.
We just base attention for Oil, by mistake discover another mineral, The way Nigerian government go use power collect am from you.. lol

Useless selfish leaders is what we have here.

Whytelyon:


Hehehehe..It is well.
We just base attention for Oil, by mistake discover another mineral, The way Nigerian government go use power collect am from you.. lol

Useless selfish leaders is what we have here.

my.brother what to do....
is where we find ourselves ryt now.....
no be curse ooo, but it wont get any better anytime soon, till dem papies die goooo

Perfecttouchade:
If e happen for Naija ehn, na government benefit be that..Congo people don carry their own palliative

Hmm what is the evidence that their government will not still hijacked it along. Fear African leaders.

SKhanmi:
Death is coming, Something like this should have been kept secret.

God bless you, that is my take, every little thing they have send it to the internet already, too bad.

Zimzy:
The value of gold worldwide will surely be affected if this news is true.

Honestly am speechless. Imagine what it means to have a mountain of gold, I mean a whole mountain for crying out loud maybe an missing something. When it is not garden of Eden.

Nice

WAR IS IMMINENT

"The DRC is one of the richest countries in terms of natural resources in Africa. It has cooper, cobalt, zinc, coltan, cassiterite, gold, bauxite, diamond, oil, and gas. However, DRC is also one of the poorest countries in the world, because the Congolese people have seen little benefit from these immense natural resources, which have been exploited for many decades."

CSTRR:
Congo is so vast and so endowed, it would take uncommon leadership to bring the country under a single govt.
large portions are currently governed by rebels proped up by MNCs.

70% of the world's planes and jet fighters have Congolese Cobalt.

Imagine if they have a president that can leverage on it to achieve true prosperity and devt.

They would be richer than Germany.

Any president that emerges with good intentions for his nation is usually assassinated. The colonialists will never allow anyone interfere in the plundering business. Google "confessions of an economic hitman" You will understand better.

Ooooh Africa!.

God don answer the suffering villagers prayers and thank God say the government na good one.

CSTRR:
Congo is so vast and so endowed, it would take uncommon leadership to bring the country under a single govt.
large portions are currently governed by rebels proped up by MNCs.

70% of the world's planes and jet fighters have Congolese Cobalt.

Imagine if they have a president that can leverage on it to achieve true prosperity and devt.

They would be richer than Germany.

Any president that emerges with good intentions for his nation is usually assassinated. The colonialists will never allow anyone interfere in the plundering business. Google "confessions of an economic hitman" You will understand better.

blueAgent:


Mineral resources do not translate to wealth.

Saudi and Russia with all their oil wealth have GDP smaller than the 5th largest state economy in US.

Really? Are you serious ?

The Western world looted Africa back in the days, to develop what they enjoy now.
China is resource rich and also technologically rich, that doesn’t translate to wealth for them ?

Check your facts right? Mineral resources and good management = wealth.

Oh you mention Saudi, you know the Saud family are richer than the country itself ?? That answers why Saudi is not richer than it is right now.

And Russia? I give up on this conversation.

themanderon:


Any president that emerges with good intentions for his nation is usually assassinated. The colonialists will never allow anyone interfere in the plundering business. Google "confessions of an economic hitman" You will understand better.

Many countries have been liberated from the grip of colonialists and under development by vibrant leaders.

And they lived their full life.
But they were smart about it and did not risk their lives anyhow.

A good leader must know how to stay safe and avoid undue risks.

Wow God is wonderful oo.

All those years they never knew gold is in that area chaii see GOLD , just like that oo.

God you are awesome.
God you are great.
God you are wonderful.
God you are mighty.
You are forever be praised.


Thank God say no be for Nigeria, the mumu Government for done surround that area with their bulldogs claiming Government property and the next thing they embezzle it to their pockets.

stakeholders of berlin conference will visit them with baboon and bloodbath tactics.

Africa is blessed but most Africans are mentally bankrupt and filled with tribal sentiment, greed and hate for one another. That's why development may be too far from Africa.

Oil money during the oil boom in Nigeria only boomed in the pockets of those who stole power from the people.

While the Whiteman is thinking of space exploration, we are thinking of how to divide the country.

Forget tribal and religious differences; let us come together and form true Nationalism and become the leading Africa nation once again.

sunboy:


Really? Are you serious ?

The Western world looted Africa back in the days, to develop what they enjoy now.
China is resource rich and also technologically rich, that doesn’t translate to wealth for them ?

Check your facts right? Mineral resources and good management = wealth.

Oh you mention Saudi, you know the Saud family are richer than the country itself ?? That answers why Saudi is not richer than it is right now.

And Russia? I give up on this conversation.

My friend stop this false narrative that the west stole from Africa to develop there country.

Did the Roman and Greek empire still steal from Africa before they became great?

Let me bust your bubble ,Europe was far ahead of Africa before they came to Africa, the resources you claim they stole was mostly traded in most cases with the locals in exchange for other goods.

Canada,Australia, New Zealand and many more western countries never had colony but they are first World rated nations why?

US never had any colony in Africa except Liberia which was not even a colony per say, yet they are the most richest nation.

You think resources equates directly to wealth and development, then why is Singarpore an island country with very small land mass, smaller than Eegmba LGA in Rivers state, about 550sq km richer than Liberia, Gabon ,Equitorial Guinea put together despite all their oil wealth and mineral and land resources.

Singarpore imports drinking water, they have no single resources including water and land?

The China you are talking about depends on the west for virtually all their technological achievements.

namedo:
Africa is blessed but most Africans are mentally bankrupt and filled with tribal sentiment, greed and hate for one another. That's why development may be too far from Africa.

Oil money during the oil boom in Nigeria only boomed in the pockets of those who stole power from the people.

While the Whiteman is thinking of space exploration, we are thinking of how to divide the country.

Forget tribal and religious differences; let us come together and form true Nationalism and become the leading Africa nation once again.

My brother it is not possible, The blackman is so stupid and greed that even in a family devoid of tribalism and enithcity they would steal kill and destroy themselves.

Am a witness to what household enemies can do

Dasuks:


I understand it very well and Im saying that those contractual terms are fishy. The mineral is on ur soil. U shld have 60 percent at least contributory. Whether u live up to the obligations or not is not an issue. Sovereignty is enough to get everyone to overlook the issue. Always postpone till the following year. The taxes are 10 percent and royalties are 30 percent or so. Quite low dont u think?

Now if 5 % operational stake can't be enforced, Gertler them will pay the taxes. ? Bro? and u know the effective tax rate is literally somewhere around 5 %. Because these fees dont even get paid. Due to personalization of power among the oligarchs. There's several studies out there about the effective accruals being literally around 5%. If u look u will see. Just showed u official figures. Look at how ridiculous those figures are, 5 % really ?

Even Naija forming 60 % jv and 66 to 85 percent pet profit taxes (depending on whether within or after 5 years) gets cheated. MNCs have better accountants and lawyers... so what does 5 % do

All you are doing is assumptions with a biased mindset.

You need to understand that an investor also has a risk to shoulders.
When your taxes and royalties are too high it scares investors.
There is a lot of risk involved in resources extraction.

I gave you website of extractive transparency an NGO that checkmate resources extraction and government revenues in African countries and their analysis is not too bad for Congo.

In the case of Nigeria you mentioned, the government is even oweing the MOC several billions of dollars, of money they are supposed to contribute as their own part of JV agreement .

Nobody is cheating Nigeria, the agreement is normally structured 45% JV. The Nigerian government is supposed to provide 45% of the cost of exploration and mostly development of any Field, and when the field starts production the government receives also 45% as revenue outside the taxes and royalties.

For example look at the structure of NLNG you can google it it's all online , no one is cheating your government rather your government is cheating us, the masses.

Dasuks:


Nnpc holds 60% JV/ Contributory. But how many times do they pay up? However, u cant deny them their equity. Sonangol is a bit more hands on. But the same thing. U cant withhold payments.

The 5% is not even always enforceable. Some companies are leaving the country with 100%. When Kabila struck the deal with tshisekedi he took control of mining finance and security... who does that ? And ppl like Gertler and glencore keep caking ?

Whose work is it to enforce it?


You still don't get it,
Can Ibb or obj or jonathan pocket nnpc money out of power as a matter of right vs buhari ? U know what I mean ? Congo is almost 90 million ppl with a 50 billion usd economy. Africa is poor yes, but 50 billion gdp (all activity) on almost 100 million ppl... mediocre.

Let us know that the elite r stealing money and hold them for it. Not the one where they're not even chopping it and the real choppers are abroad.

U saw the senegal BP deal ? Some romanian dude is essentially playing the role that arthur eze adenuga or danjuma will play here.

How do u go after him ? Will he spend a dime or invest a dime in ur economy ?

Congo shld be shoulder to shoulder with Naija.

Who is responsible to enforce it?
In Guniea they are doing good in terms of enforcement it left for Congolese government to do the same.

blueAgent:


All you are doing is assumptions with a biased mindset.

You need to understand that an investor also has a risk to shoulders.
When your taxes and royalties are too high it scares investors.
There is a lot of risk involved in resources extraction.

I gave you website of extractive transparency an NGO that checkmate resources extraction and government revenues in African countries and their analysis is not too bad for Congo.

In the case of Nigeria you mentioned, the government is even oweing the MOC several billions of dollars, of money they are supposed to contribute as their own part of JV agreement .

Nobody is cheating Nigeria, the agreement is normally structured 45% JV. The Nigerian government is supposed to provide 45% of the cost of exploration and mostly development of any Field, and when the field starts production the government receives also 45% as revenue outside the taxes and royalties.

For example look at the structure of NLNG you can google it it's all online , no one is cheating your government rather your government is cheating us, the masses.

I am not being biased. Or rather, it is not my intention. Dont over estimate the cost shouldered by the investors. Depending on the JV nnpc can be 55 or 60 %. Lng is run well because Nnpc is 49 %, while shell total and eni hold 51%. And lng is an actual company, not just a project(field).

Nnpc doesnt live up to its funding responsibilities. Rather it lets the companies claim the cost that was spent on its behalf. That's one of the reasons for the rise in PSCs over traditional JVs. If ure gonna spend on the nnpv part why not do it already ?

Good for Guinea. But what I'm talking about is Congo. Those figures wre low. Country that size and well endowed making less than 10 bln USD from all those ores and minerals ?
And yes Nigeria is being cheated. They're always finding a margin of differential between what was exported and quoted. But it's usually years later.... before the court cases come and go. And everyone allows it slide either way. Because afterall nnpc isn't living up to it's JV obligations.

You still cannot justify the theft in Congo. Esp the one by Gertler. Mind you my brother, Im not tryna play Africa is a victim card here.... im just saying that Congo is getting royally shafted for the volumes that they produce and the true worth of it.

Congo shld be wealthier than Nigeria on an annual income basis.

I guess I just don't feel for int'l investors who up play their trials and difficulties. Cos when the next email leak occurs, you'd see messages about them detailing how they cheat those African monkeys or some other BS.

Then again you're being fair. I can see that too.

Enn214:

https://www.youtube.com/watch?v=16mhhUV3hek

Videos have emerged online showing the moment villagers in Congo discovered what has been tagged The mountain of gold in congo.

In the viral video circulating, the villagers could bee seen digging the mountain containing the gold deposits and taking the soil back to their homes in order to wash the dirt and extract the gold.



https://twitter.com/AfricaFactsZone/status/1366751421941579782?s=19



https://twitter.com/AhmadAlgohbary/status/1366803747062624261?s=19



https://twitter.com/denis_aunga/status/1366808966576111619?s=19

congo here i come .....make i go collect my own

That's cool

Seniorwriter:
Lovely
Discovering such must have created overjoy and a whole lot of new hope in these villagers. I just hope it doesn't turn out to be a problematic blessing what we are experiencing in Nigeria!
Howbeit I hope they are smart enough to create a precious stone hub or residual income from this blessing rather than just sell they can be creative enough to trade for bitcoins or other money bonds with appreciable status.
As a youth make sure you act as a Citizen of the world and earn using newer modern skills to get paid daily, weekly or monthly. You can never go broke or get affected by the negativities of the recent hardship gotten from this present ruling party and her unreasonable leadership policies that has plunged Nigeria's Economy downwardly. Anyway it's a New Month hence for those that are interested in knowing new ways to earn residual income with existing or newer skills and never lack cash for your livelihood then contact me for the tools needed to be put in place and allow the locomotives generate you money online, offline or both.
Imagine you have the right skill to create 1k clients that you make constant $50 from them each doing small task for them ones or twice a week.!! Awesome right. Howbeit this ain't for the get rich quickly youths out there.....but if you want to grow wealth then contact me via my facebook on my profile. Do you know that some people make money from Small skills like sending emails for agricultural companies...... There are so many remote jobs out there.

Proactivity Leads To Productivity!!!
@seniorwriter

Bro show me d way 2

Hmmmm, their government will still find out the location, the locals shouldn't be engaging in illegality.