Jinchuan Reports Suspect Payments at Congo Unit, Shares Remain Suspended

May 27, 2026

Mintesinot Nigussie

Trading in shares of Jinchuan Group International Resources has remained suspended since March as the company deals with the fallout from an internal investigation that uncovered nearly 145 million US dollars in suspect transactions tied to its operations in the Democratic Republic of Congo.

The company said the investigation centred on activities at the Ruashi Mine, where former local employees allegedly exploited deficiencies in oversight and financial controls over several years ending in 2024.

According to the findings, investigators traced 137.4 million US dollars in payments to 12 suppliers connected to what Jinchuan described as a scheme involving fabricated invoices, questionable procurement arrangements and unauthorised disbursements.

Another 7.1 million US dollars was linked to transfers made directly into the personal bank account of a former employee.

The suspect transactions, previously recorded under mining and operating expenses, will now be reclassified as “other losses.” The company has reported the matter to prosecutors in Congo and said several employees had either been suspended or dismissed.