Societé minière de Bakwanga
Encyclopedia
Societé minière de Bakwanga (MIBA) is a mining
company based in the Democratic Republic of the Congo
. MIBA is a diamond
mining company
, and its operations are centered near Mbuji Mayi, in Kasai-Oriental
Province in south central DRC.
Approximately 80% of MIBA's stock is owned by the Congolese government, with 20% owned by former Umicore
subsidiary Sibeka, which in turn is owned by Mwana Africa plc
, which operates the mines. The MIBA employees went on strike several times for not being paid for approximately 2 years. The majority of the population in Congo believe that the company's money is being embezzled by the head of the Congolese government Joseph Kabila
and his collaborators. This is the reason why employees suffer and haven't been paid for two years.
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
company based in the Democratic Republic of the Congo
Democratic Republic of the Congo
The Democratic Republic of the Congo is a state located in Central Africa. It is the second largest country in Africa by area and the eleventh largest in the world...
. MIBA is a diamond
Diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
mining company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
, and its operations are centered near Mbuji Mayi, in Kasai-Oriental
Kasai-Oriental
Kasai-Oriental is one of the ten provinces of the Democratic Republic of Congo. It borders the provinces of Kasai-Occidental to the west, Équateur to the northwest, Orientale to the northeast, Maniema to the east, and Katanga to the south. Kasai-Oriental is one of the richest diamond producing...
Province in south central DRC.
Approximately 80% of MIBA's stock is owned by the Congolese government, with 20% owned by former Umicore
Umicore
Umicore N.V. is a multinational materials technology company headquartered in Brussels, Belgium. Formed in 1989 by the merger of four companies in the mining and smelting industries, Umicore has since reshaped itself into a more technology-focused business encompassing such areas as the refining...
subsidiary Sibeka, which in turn is owned by Mwana Africa plc
Mwana Africa plc
Mwana Africa is a mining company based in Johannesburg and London. According to its website, it is the first African-owned and African-managed business to be listed in the Resources sector of the London Stock Exchange's Alternative Investment Market...
, which operates the mines. The MIBA employees went on strike several times for not being paid for approximately 2 years. The majority of the population in Congo believe that the company's money is being embezzled by the head of the Congolese government Joseph Kabila
Joseph Kabila
Joseph Kabila Kabange is a Congolese politician who has been President of the Democratic Republic of the Congo since January 2001. He took office ten days after the assassination of his father, President Laurent-Désiré Kabila...
and his collaborators. This is the reason why employees suffer and haven't been paid for two years.