The board and management of the Democratic Republic of Congo (DRC)’s state-controlled diamond company, Bakwanga Mining (Miba SA) has been suspended, according to news reports. Minutes of meeting held by the DRC’s Council of Ministers seen by Bloomberg News stated that the suspension was due to an audit that “…identified major dysfunctions in compliance, governance and management, production and financial administration”.
Miba produced 19,683 carats of diamonds in 2019 compared to 119,000 carats, a year earlier.
DRC is the world’s fourth largest rough-diamond producer in terms of volume and the 10th largest in terms of value.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
