Overview

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. G camines, or La G n rale des Carri res et des Mines, is a state-owned mining company in the Democratic Republic of Congo (DR Congo). Its principal products are copper (for which Katanga is well known, and which often accounted for 50% of export earnings), cobalt and zinc. Additional minerals mined include uranium. G camines is the successor to the Union Mini re du Haut Katanga. On December 31, 1966, the Congolese government, under dictator Mobutu Sese Seko, took over the UMHK, an immensely profitable Belgian mining trust founded on 1906, and transformed it into a state-owned firm, G camines. From that point onwards the company's fortunes declined, as did those of the rest of the country (between 1965 and 1987, Congolese GDP per head fell by 2.4%). Under President Mobutu's kleptocratic rule, theft and corruption were not uncommon, driving the once profitable firm to the brink of bankruptcy (it has yet to account for a $400 million World Bank loan in 1989), and leaving it so cash-stripped that it had to enter partnerships with other firms merely to keep itself afloat.

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