# ASA Resources Group and MIBA SA shareholder dispute

> Live situation record from CLSTR: https://clstr.news/situations/asa-resources-group-and-miba-sa-shareholder-dispute
> Updated: 2026-09-02T12:21:51.000Z. Sources: 5. Developments: 2.

ASA Resources Group, a 20% minority shareholder in the state-controlled diamond mining company MIBA SA, has entered a legal dispute with the Democratic Republic of the Congo regarding a recapitalization process.

The conflict involves a planned capital increase totaling approximately 137.54 billion Congolese francs (nearly $60.7 million). ASA Resources Group argues that the state has proceeded with a new recapitalization process following a May 2026 meeting without fulfilling mandatory preconditions. These required steps include a general audit of MIBA, a full inventory of assets, the appointment of an independent firm to conduct these tasks, and improvements to corporate governance and the company’s recovery plan.

ASA Resources Group claims the current procedure is “unthinking and disordered” and threatens to dilute its shareholding and strip it of preferential rights. To protect its stake, the company has petitioned the Kinshasa-Gombe Commercial Court to overturn resolutions from the May extraordinary general meeting and suspend the planned capital increase. The legal dispute now threatens the broader $70 million revival plan for the mining company.

## Timeline

### 2026-09-02: MIBA revival plan threatened by ASA Resources shareholder dispute

ASA Resources Group is challenging MIBA’s $70 million revival plan in court, demanding audits and governance reforms before contributing $12 million to maintain its 20% stake in the Congolese diamond miner.

3 sources. https://clstr.news/cluster/miba-revival-plan-threatened-by-asa-resources-shareholder-dispute

### 2026-08-26: ASA Resources Group disputes MIBA SA recapitalization process

ASA Resources Group PLC is calling on the DRC government to suspend MIBA SA's recapitalization process, alleging irregularities and a failure to meet agreed-upon audit and governance conditions.

2 sources. https://clstr.news/cluster/asa-resources-group-disputes-miba-sa-recapitalization-process

---
Cite as: ASA Resources Group and MIBA SA shareholder dispute. CLSTR, https://clstr.news/situations/asa-resources-group-and-miba-sa-shareholder-dispute