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AXMIN Inc V.AXM.H

Alternate Symbol(s):  AXMIF

AXMIN Inc. is a Canadian exploration and development company with a focus on Central and West Africa. The Company, through its wholly owned subsidiaries, has exploration projects in the Central African Republic (CAR) and Senegal. The Company’s primary asset is the Passendro Gold Project situated in the CAR. It holds a 100% interest in the Bambari properties, which consists of a mining license (355 square kilometers) and two exploration licenses, Bambari 1 and 2 (1,240 square kilometers). The Passendro Gold Project is situated in the center of the mining license, which is ring-fenced by the two Bambari exploration licenses. The Company, through its joint venture partner and manager, Sabodala Mining Company SARL (SMC) owns approximately 20% interest in Sounkounkou, Heremokono and Sabodala NW exploration licenses (the Project) located in the Birimian belt of eastern Senegal. The Company's subsidiaries include AXMIN Limited (BVI), Aurafrique SARL (CAR), SOMIO Toungou SA (CAR), and others.


TSXV:AXM.H - Post by User

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Post by Tree2treeon Dec 22, 2021 8:17pm
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Post# 34256650

More details about the Russians and Ndassima - 2

More details about the Russians and Ndassima - 2
https://www.scopedata.org/reports/2021-3-19_CAR.html

3. Reclamation of Rebel-Held Mines

The activity of Russian actors has also been rumored in areas not officially under the stewardship of Lobaye Invest. For example, at the Ndassima gold mine forty miles north of Bambari. The mine at Ndassima is an open-pit mine, not uncommon for extraction of gold or diamonds in the Central African Republic. Numerous small buildings surround the mining area, indicating a permanent population in the area in and around the site.

The mine was owned by the Canadian “Axmin” mining company, but was overrun by rebels around 2013. Since then, operation of the mine has largely continued under the joint control of Seleka rebel groups, known as the Union for Peace in the Central African Republic (UPC) and Popular Front for the Rebirth of Central African Republic (FPRC) [30]. In mid-July of 2018, it was reported that an agreement had been reached between CAR and Russian officials to allow for Russian exploration of the area [31]. According to multiple local media sources, Russian actors have also displayed interest “n the vicinity of Ndassim, Birao, Bouar, and Bria…” and have been reported to be directly negotiating with rebels in the area to access the natural resources [32]. The rebels have been operating the mine for the past few years, using the labor of local villagers. It is thought that a deal may have been struck between the rebels and Lobaye Invest to fully exploit the mine [33].

The situation at Ndassima mine as well as the earlier FPRC-PMC encounter illustrates a more pragmatic, self-interested approach than Moscow has publicly boasted. Despite pledging support and material aid to President Touadra’s government, Russian actors in CAR still engage in private bargaining with rebel groups, who hold vast swathes of mineral-rich territory in the Republic.

Satellite imagery analysis of the immediate area of the Ndassima gold mine, indicating a small population present in the area.

Conclusion

The acquisition of mining permits and operation of mines by Lobaye Invest signals only the beginning of Russian presence in the Central African Republic.
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