In the videos, Tshimanga alleged he’d made a similar deal with Ivanhoe. Tshimanga, who is currently on trial in Congo for passive corruption and influence peddling, told Bloomberg in a message on Dec. 15 he would respond to Ivanhoe’s statement but has yet to do so.
“In early 2021, Ivanhoe Mines entered a term sheet with a Congolese entity beneficially owned by Mr. Vidiye Tshimanga for a joint venture on certain exploration licenses,” Ivanhoe told Bloomberg in an email. The deal is currently in arbitration at the International Chamber of Commerce in Paris after Tshimanga’s company “reneged on the commercial terms of this agreement,” Ivanhoe said.
Term sheets are usually non-binding agreements that outline the terms of a transaction.
Key producer
Congo has some of world’s richest mineral reserves, and the country could play a critical role in alleviating long-term shortages of metals like copper and cobalt, which will…
