Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The Israeli Walla! website: We are running out of stockpiles, our forces are exhausted, and the lives of the captives are in danger. It is time for a ceasefire deal in Gaza.
Several wounded in an Israeli bombardment of a tent in al-Mawasi, south of Khan Younis in the Gaza Strip.
Israeli media: Three wounded, three killed in an ongoing operation in the Gaza Strip.
Al Mayadeen's correspondent in southern Lebanon: Israeli artillery shelling targets the outskirts of the town of Shebaa
Al-Qassam Brigades: The targeting took place at the intersection of 'Street 5' with the western line north of Khan Younis
Al-Qassam Brigades: A NIMR armored personnel carrier carrying an Israeli soldier was targeted with an Al-Yassin missile north of Khan Younis
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes

UAE-DRC 25-year gold deal 'monopoly, troubling; jeopardizes fairness'

  • By Al Mayadeen English
  • Source: News websites
  • 3 Jun 2023 09:38
  • 2 Shares
3 Min Read

Analysts and watchdog "Le Congo n’est pas à vendre" describe the contract's length and advantageous tax rate as troubling.

  • x
  • Workers at the Makala gold mine near Mongbwalu in the Ituri province, in the Democratic Republic of Congo. (Reuters)
    Workers at the Makala gold mine near Mongbwalu in the Ituri province, in the Democratic Republic of Congo (Reuters)

Criticism has arisen over a 25-year agreement recently unveiled by the Congolese government, which grants exclusive rights to a little-known UAE company for the export of artisanal gold at preferential rates.

The deal, signed in late 2022 and made public on Monday, was allegedly intended to address issues in the Democratic Republic of Congo's informal mining sector, where smuggling has resulted in the loss of huge sums of tax revenue and contributes to the funding of militant groups in the mineral-rich eastern provinces of the country.

Under the contract, Primera Group, an Abu Dhabi-based conglomerate, receives a majority share in two joint ventures and exclusive rights to export artisanally-mined gold at a preferential rate of 0.25%.

Furthermore, the company is also granted exclusive export rights for artisanal coltan, tin, tantalum, and tungsten (3T) minerals at a tax rate of 3.5%.

Analysts and the watchdog group "Le Congo n’est pas à vendre" (Congo is not for sale) have criticized the deal regarding the lengthy contract duration and the advantageous tax terms.

Jean Claude Mputu, a spokesperson for the watchdog group, expressed concerns about the monopoly held by Primera Group over the export of all artisanal gold and 3T minerals.

"A monopoly on the export of all artisanally-mined gold and 3T minerals, for 25 years," the Gulf firm benefits of "raises great concerns about fairness," Mputu said.

Related News

Syria inks $800mln deal with UAE's DP World to upgrade ports

Syria's al-Sharaa met Israeli security official in UAE: Exclusive

Comments are yet to be made by the UAE government and Primera Group on the contract agreement.

The Congolese government, under pressure from the International Monetary Fund (IMF), published the contract without making any statements about the deal.

In February, Finance Minister Nicolas Kazadi stated that smuggling had already shrunk, citing data showing a great increase in Primera's artisanal gold exports over a 45-day period compared to the province's total exports in 2022. However, the official did not explain how this proved a decline in smuggling.

Mputu and two former UN analysts criticized the agreement for its favorable tax terms on the export of raw minerals, which contradict the government's aim to develop processing capacity within the country and maximize its mineral wealth.

The contract only requires Primera to establish a gold refining plant within Congo when the volume of gold to be refined exceeds 60 tonnes per year.

Currently, Primera has exported 650 kilograms from the province of South Kivu between January and April, a long way from the threshold of artisanal gold stated in the contract.

Moreover, the export tax rate for raw gold provided to Primera is 40 times better than the 10% rate offered to a local processor of refined gold.

An anonymous analyst who previously worked for the UN in Congo said, "This looks like a deal that is going to benefit a small number of people for a very long time."

  • United Arab Emirates
  • DRCongo
  • Gold prices
  • Democratic Republic of Congo
  • UAE
  • mining
  • Gold
  • minerals

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS