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Body disputes Congo's mineral profits

Kinshasa - The Extractive Industries Transparency Initiative says it is suspending Congo's membership for a year over failures to disclose all mineral and oil revenues.

A statement on Thursday says that despite "significant progress" the country still has not presented reliable figures to the Oslo-based organization working to increase accountability and governance in mining by companies and governments.

The organization's last report, for 2010, has Congo's government reporting mining revenue of $875 938 727 and companies reporting payments to the government of $773 021 963.

That is an improvement on the previous report, for 2009, where the government reported revenue of $255 218 632 against the companies' $293 448 340.

Corruption is endemic in mineral-rich Congo. The International Monetary Fund canceled its loan programme there last year because the government refused to reveal details of mining deals.

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