( 3 minutes read)
· MIBA- the Bakwanga Mining Company is situated in the city of Mbuji-Mayi, the capital of the Kasai-Oriental province in south-central DR Congo
· Once upon a time, this company 80% owned by the government and the rest with a Belgium enterprise was pride of the city for its mining of diamonds mostly used for industrial purposes
· The average annual output, which stood at six million carats in 2000 has been reduced to less than half a million carats in 2011, when it was resumed operations a decade ago
MIBA- the Bakwanga Mining Company is situated in the city of Mbuji-Mayi, the capital of the Kasai-Oriental province in south-central DR Congo. Once upon a time, this company 80% owned by the government and the rest with a Belgium enterprise was pride of the city for its mining of diamonds mostly used for industrial purposes.
That glory did not last for long. A combination of factors, such as poor management, crumbling infrastructure, embezzlement, looting, and atrocities during two Congo wars that took place between 1997 and 2003, left MIBA crippled . Finally, the mine was closed in 2008 amidst global financial meltdown. The average annual output, which stood at six million carats in 2000, was reduced to less than half a million carats in 2011, when it resumed operations a decade ago. The operations of the company is at a sub-optimal state.
The state has released US$5 million in August last year at the instance of President Felix Tshisekedi, who incidentally hails from the Kasai region, where the company is located. The capital infusion, the managers of the company complain is inadequate to make it fully operational. The company, which was set up in 1961, with great expectations, is still struggling to survive. The company has to get a lot of money from the government. But\ the government is refusing to pay since its own coffers are also empty. People who are depending on the mine for their livelihood are eagerly awaiting for the government largesse to bailout the company, which was once upon a time a jewel of the nation and now almost abandoned.
