IVANHOE Mining has dismissed allegations by a US investigative organisation ‘The Sentry’ which said the Canadian firm commited corporate malfeasance in its Congo operations.
The report, quoted by the Globe & Mail, detailed a police investigation at Ivanhoe’s Vancouver office which sought information on $2.7m in bank transfers from Ivanhoe to a Swiss bank account in connection with contracts for its Congolese mining operations.
“Both the Sentry report and the Globe and Mail article are rife with misleading content that selectively discloses supposed facts,” said Ivanhoe Mining in its statement.
Documents authorised for seizure related to three bank transfers from Ivanhoe to the Swiss bank account of Stucky Technologies for hydropower supplies to Ivanhoe’s Kamoa-Kakula via the state-owned power company, said the Globe & Mail.
The Globe and Mail clarified that the police search took place more than one year ago and was publicly disclosed by Ivanhoe Mines on March 30, 2022.
Ivanhoe said it cooperated with the search in November 2021 and that no charges have been laid against the company or its directors or employees and that no financial provision has been made in relation to the matter.
Ivanhoe said the report included “incomplete, selective and speculative content”. The two reports “lack any tangible evidence that misconduct occurred”.
Ivanhoe has an interest in three projects in the DRC, the Kamoa-Kakula Complex in a joint venture with Zijin Mining Group and the Government of the DRC; the Kipushi Project, in a joint venture with state-owned Gécamines; and the Western Foreland Exploration Project.
Ivanhoe said The Sentry report “demonstrates a fundamental misunderstanding of the DRC mining code, the mining industry, and Ivanhoe’s Western Foreland Exploration Project.”
“The Sentry organization promotes itself as “an investigative and policy organization that seeks to disable multinational predatory networks that benefit from violent conflict, repression, and kleptocracy,” Ivanhoe said.
The miner also said t is unclear how this relates in any way to Ivanhoe Mines’ history of exploration activities, what expertise the organization has in terms of mineral exploration and development, or the DRC as a mining jurisdiction.
Ivanhoe Mines said it invites The Sentry to visit its operations and witness partnership in the DRC first-hand.