Democratic Republic of Congo’s government announced it is nearing a deal with Dan Gertler’s Fleurette Group to take back billions of dollars worth of its mining and oil assets in the country.
Companies owned by the Israeli billionaire, who is facing U.S. sanctions for alleged corruption in Congo, control mining and oil permits throughout the Central African nation as well as lucrative royalty streams for some of the world’s biggest copper and cobalt projects run by Glencore Plc and Eurasian Resources Group Sarl. A spokesman for Gertler declined to comment. Gertler has denied all corruption allegations and he’s never been charged.
A Congolese government commission is close to reaching a memorandum of understanding with Fleurette Group to recover oil and mining assets valued at more than $2 billion “as well as a substantial part of the Kamoto Copper Company royalties,” according to minutes from Friday’s council of ministers meeting read on national television by Augustin Kibassa, minister for post and telecommunications.
