1926 Societe des Mines d'Or de Kilo-Moto bond - Belgian Congo gold mine stock

Description

For auction is a bond certificate from the "Society des Mines D'Or de Kilo-Moto" (The Kilo-Moto Gold Mines Company), Belgian Congo. This was a Congolese Limited Liability Company. Kilo-Moto is a region in the far northeast corner of the Democratic Republic of the Congo where gold was discovered in the Ituri River by government prospectors in 1903. Moto is in the Haut-Uele District, and Kilo in the Ituri Interim Administration. The Kilo mine was opened in 1905 and the Moto mine in 1911. Gold was also extracted by panning the river gravels. In 1919 the government created the Régie Industrielle des Mines de Kilo-Moto, an autonomous body. In 1926 the Régie was converted into a commercial company, the Société des Mines d’Or de Kilo-Moto.
1926 Societe des Mines d'Or de Kilo-Moto bond - Belgian Congo gold mine stock
1926 Societe des Mines d'Or de Kilo-Moto bond - Belgian Congo gold mine stock
Click images to enlarge
Description
For auction is a bond certificate from the "Society des Mines D'Or de Kilo-Moto" (The Kilo-Moto Gold Mines Company), Belgian Congo.
This was a
Congolese Limited Liability Company
.
Kilo-Moto is a region in the far northeast corner of the Democratic Republic of the Congo where gold was discovered in the Ituri River by government prospectors in 1903
. Moto is in the Haut-Uele District, and Kilo in the Ituri Interim Administration. The
Kilo mine was opened in 1905 and the Moto mine in 1911
. Gold was also extracted by panning the river gravels. In 1919 the government created the
Régie Industrielle des Mines de Kilo-Moto
, an autonomous body. In 1926 the Régie was
converted into a commercial company, the Société des Mines d’Or de Kilo-Moto
. Hydroelectric stations were built to power the crushing plants, and by 1930 the two mines, but mostly Kilo, were producing almost 11,000 pounds annually.
During the 1950s and 1960s, Belgian charter companies extracted over 3,000,000 ounces from a total recorded 11,000,000 ounces of gold from hard-rock mines in the Kilo-Moto belt. Mining included a mixture of alluvial and shallow oxide pits. There were also underground industrial mines near Mongbwalu, namely Adudu, Senzere and Makala.
The Democratic Republic of the Congo became independent in 1962 and the company was nationalized without compensation in 1967.
This bond was issued in 1926
and was to be
due in 1944
. The
total amount of the offering was 230,000,000 Belgian francs
. Kilo-Moto
paid dividends for 14 years but stopped with the onset of World War II when the bond defaulted
.
This certificate measures appx 12 1/2 x 8 1/2 inches and is printed on a heavy-weight paperstock.
Attached are 16 bond payment coupons
, which were defaulted upon. The back of the bond contains an
"Extraits des Statuts",
or an abstract of the bond provisions.
This bond is in
very good condition
. It has no rips, tears or folds, and the only writing is a bond inventory number on the bottom right corner.
A rare addition to someone's collection of mining stocks.
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