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South Sudan's efforts to build on the lucrative gold industry have failed when two foreign companies, Israel-owned 4MB Mining and London-based Misnak International, compete in Kenya for prospecting equipment in the United States. part of this multi-million dollar company.
The problem is that the material has already been shipped back to Dubai's Jebel Ali port, far from the jurisdiction of the Mombasa High Court.
The South Sudan government of President Salva Kiir was trying to control the multi-million dollar mining sector – which is mostly in the hands of illegal miners – and had formed a joint venture with an Israeli company registered in Panama, 4MB Mining Limited, led by Israeli businessman Yoram Moussaieff.
The Israeli company expected to extract at least 30 million ounces of gold from the Luri basin, 55 km from Juba. At current world prices, the targeted 4 million gold could yield about 36.7 billion dollars (3767 billion shillings).
4MB hired London-based logistics firm Misnak International to acquire, buy and ship prospecting equipment in Juba by March 17 at the latest.
The goal was to benefit from tax breaks granted by the Government of Southern Sudan. The equipment landed at Mombasa port on March 4, after 4MB had honored a Misnak bill. But before Misnak could send the material to Juba, he sent new invoices to 4MB, claiming additional fees, which 4MB refused to honor, causing a stalemate, even with the approach of the deadline. delivery of March 17th.
After more than a month back and forth between the two companies, 4MB chose to file a lawsuit against Misnak in the Mombasa High Court.
The Israeli company has also designated as stakeholder companies Total Link Logistics, Union Link Logistics and Freight Forwarders Limited, three companies that have contributed to the depollution and storage of equipment in Mombasa.
Total Link and Union Link have since filed applications with the Mombasa High Court in an attempt to withdraw from the case.
But the lawsuit took a new turn, as 4MB says Misnak has worked with Union Link and Freight Forwarders to ship the equipment to Port Jebel Ali in Dubai, which could trigger a diplomatic conflict between Kenya and Juba.
4MB wants the High Court to order the release of the mining equipment and take over Misnak all accumulated storage costs, compensation for delay and taxes that the Government of South Sudan will charge on the Equipment, which will certainly be delivered well after the Window of March 17.
In total, 4MB are looking for more than 8.5 billion shillings at Misnak, but the equipment is no longer in the country.
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