Former minister Khellil involved in “ ENOR” financial scandal

The Examining Magistrate of the court of Birmandreis, Algiers, has recently summoned the general manager of Gold Exploitation Company “ ENOR” along with his Finance Department chief to start hearing them on the case of the embezzlement of $ 67 million.

ENOR was privatized by the former energy minister Chakib Khellil in 2002 and started a joint venture with the Australian company “GMI” 2011 after announcing an alleged discovery of gold mine in the south of Tamanrasset, whose production capacity is estimated at 3 tons annually.

Owing to the economic importance of the project, the Algerian authorities have financed GMI at a level of $ 67 million, but the announced quantities were illusionary and proved to be a scheme to get money in order to finance its operations here in Algeria before quitting the country.

A source close to the national hydrocarbons company “ Sonatrach” has wondered why it has paid $ 120 million to take over a bankrupt company whose production capacity doesn’t exceed 20 Kilogram of gold annually.

The Australian company has sold 52 % of its shares in the Gold Mining Company to Sonatrach after deciding to quit Algeria last November and cease unilaterally to exploit “Amsmassa” and “ Tirak” gold mines in the region of Tamanrasset.