New evidence suggests that, not only did Sundance Resources Ltd. bribe the family of the president of the Republic of the Congo, it also bribed the country's mines and geology minister, The Australian Financial Review reported Oct. 3.
The company was said to have paid a one-third stake in a Congolese subsidiary to a son and a nephew of President Denis Sassou Nguesso in 2006. Some of the stake was then exchanged for shares in the ASX-listed company. In 2007, Sundance was granted two exclusive mining permits over the Mbalam-Nabeba iron ore project.
Fairfax Media obtained leaked documents showing Sundance gave millions of dollars worth of shares to a company, Cominvest, which was founded and directed by the brother of the Republic of the Congo mining minister, Pierre Oba.
Meanwhile, former prominent Congolese journalist Elie Smith said two Sundance representatives told him that they had promised a bribe to the mining minister and the family of the president to secure government backing for the Australian company.
Sundance said it will be investigating the involvement of both the mining minister and the president.