Gold deposits at Moto were initially discovered in 1903 and mining began in 1905. A colonial state corporation called Kilo-Moto exploited the deposits from 1905 to 1919. The colonial state recruited laborers from rural Africa to work in the mines. In 1919, Kilo-Moto became organized as an autonomous colonial state corporation with a Board of Directors in Brussels appointed by the Minister of the colonies. This company operated as a private corporation starting in 1926 and survived the handover to independent Congolese rule in 1961, but was taken over by the Zairian state in 1967. The archives of the company up to 1967 are still stored in Brussels.
Moto Goldmines Limited was a
gold exploration and
mining company with operations in the
Kilo-Moto greenstone belt in
Haut-Uele Province in the northeast of the Democratic Republic of the Congo. The company's
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
was listed on the
Toronto Stock Exchange and the
London Stock Exchange’s
Alternative Investment Market.
Moto Goldmines was acquired by
Randgold Resources in 2009,
which subsequently merged with
Barrick Gold
Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario, Canada. It has mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democrati ...
in December 2018.
The joint venture developed the
Kibali Gold Mine
The Kibali Gold Mine is a combined open pit and underground gold mine in the Haut-Uélé province of the northeast Democratic Republic of the Congo. By area, it is one of the largest in Africa. The mine is named for the nearby Kibali River.
Loc ...
.
References
External links
*
The Gold Mines of Kilo and Moto
Gold mining companies of the Democratic Republic of the Congo
Ituri
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