The Democratic Republic of Congo’s government suspended the board and management of Miba SA, the state-controlled diamond company, according to minutes of a meeting of the Council of Ministers.
The move came after an audit “identified major dysfunctions in compliance, governance and management, production and financial administration,” the council said in the document on Saturday. The central African nation’s government will convene a general assembly to discuss ways to “re-float” the company, it said.
Miba mined only 19,683 carats of gems in 2019 after producing about 119,000 carats the year before, according to mines ministry statistics. Congo is the world’s biggest producer of cobalt and Africa’s largest supplier of copper.
