DR Congo diamond mining giant struggles to revive its glory days ...Middle East

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DR CONGO: Mbuji-Mayi has seen better days.Once the home of DR Congo’s state diamond company MIBA, the town used to be filled with free-spending miners and their families, who brought a giddy touch of prosperity to remote Kasai-Oriental province.But at the end of last century, MIBA — the Bakwanga Mining Company — began to go into a long downward spiral, taking the town with it.Poor management, crumbling infrastructure, embezzlement and looting, especially during the two Great Congo Wars between 1997 and 2003, left MIBA crippled by debt and at the mercy of plummeting commodity prices.It shut down at the peak of the 2008 financial crisis, resuming operations in 2011, but remains a shadow of its

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DR Congo diamond mining giant struggles to revive its glory days ...Middle East

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