MIBA
- Full name:
- Société Minière de Bakwanga (MIBA)
- Mwana interest:
- In May 2006 Mwana Africa acquired Umicore’s subsidiary, Sibeka, the major asset of which was a 20% interest in MIBA, the leading diamond producer in the DRC, based in Mbuji Mayi. MIBA’s other shareholder is the government of the DRC.
- Geology and history:
- Over the past five years MIBA has produced an average of 6 million carats of diamonds per year. MIBA’s geological reserves should allow for a substantial enhancement of the production and productivity levels of the Mbuji Mayi operations. MIBA also has mining and exploration titles covering an area in excess of 45,000 sq km where it is discussing joint ventures with major diamond producers.
- Current status and prospects:
- Mwana intends to hold negotiations with the government of the DRC, which holds 80%, to return production to optimal capacity. The technical due diligence was completed in mid 2007, and
priorities for production increase identified. Funding for the project is awaited.
- Geological maps:
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