• Update: 2020-07-29 15:23







Société Minière Victoria was incorporated on April 13, 1938; its share capital was 4,015,000 francs represented by 7,300 shares with a capital of 500 francs and 7,300 dividend shares of 50 francs. The registered office was established in Kindu and the administrative headquarters in Brussels. 

The Compagnie des Chemins de Fer du Congo Supérieur aux Grands Lacs Africains had the right to subscribe for a maximum of 20% of the initial capital of the company and, if it made use of this right, for any increase in capital, in the original proportion, without such subscriptions resulting in an increase of more than 20% of the capital. It could not transfer the shares subscribed by virtue of the foregoing right except to the Colony. 

The 7,300 capital shares and the 7,300 dividend shares were subscribed for by: 

Mutual H. Jacquet for itself and for a group, 5,800 shares of each class; Henri Jacquet, 10 shares of each class; Raymond Jacquet, 10 shares of each; Floris Ernoud, 5 shares of each; Victor Sainlez, 5 shares of each; La Compagnie des Chemins de Fer du Congo Supérieur aux Grands Lacs Africains, 1,460 shares of each. 

The shares were fully paid up except for the shares subscribed by Mutuelle H. Jacquet, which were paid up to 21%, i.e. an amount of 1,494,900 francs made available to the Company.

First Board of Directors 

The number of directors was set for the first time at four:

Messrs. Maurice Lefranc, Henri Jacquet, Raoul Jacquet and Raymond Jacquet.


The purpose of the company was: :

  1. Either for itself or on behalf of third parties, either by itself or through third parties, the research, study and exploitation of mineral deposits located in the Belgian Congo, in the domain of the Compagnie des Chemins de Fer du Congo Supérieur aux Grands Lacs Africains.
  2. The mechanical and metallurgical treatment of mineral substances to be derived from the said deposits.
  3. The sale of these substances both in their raw state and after treatment.
  4. All operations incidental to the first, second and third above.

Power within the limits of the mining legislation:

  1. To study and, if necessary, to build and operate all land, river and other means of communication; to organize in any case all transport operations or undertakings, provided that they serve mainly to facilitate its supplies and the disposal of its products.
  2. To carry out for the same purpose all operations relating to metallurgy, industrial chemistry, forestry and the use of mechanical, hydraulic or electrical forces which it may have at its disposal.
  3. With the authorization of the granting authority, to set up subsidiaries for the purpose of searching for mines in the Belgian Congo (and in Ruanda-Urundi), to take an interest by way of contribution, merger, subscription, participation, financial intervention or otherwise in any mining company, existing or to be created, working in the Belgian Congo or in Ruanda-Urundi.
  4. With the same authorization, to carry out any commercial, industrial, land, agricultural, mining, or financial operations related to its main purpose and likely to promote its realization.

With the same authorization, the company's object could not be modified, without however altering its essence, by decision of the general meeting, acting in accordance with the conditions required for amendments to the articles of association, subject to approval by royal decree (12(12/06/1938)-9694).

Changes in capital

On September 4, 1947, the EGM proceeded with several capital adjustments, namely:

  1. To reduce the share capital to BEF 1,003,750 by reducing the nominal value of the capital shares from BEF 500 to BEF 125, and of the dividend shares from BEF 50 to BEF 12.50.
  2. To create 900 new groups of capital and dividend shares, bringing the capital to BEF 1,127,500. These shares were subscribed at par and fully paid up by Mutuelle H. Jacquet.
  3. To increase the share capital to 2,377,500 francs by the creation and issue at par value of 125 francs of 10,000 new preference shares; the latter were subscribed for at a price of 125 francs by the Compagnie des Mines d'Etain de la Belgika, abbreviated to Belgikaétain S.C.A.R.L.

The share capital was then 2,377,500 francs represented by 10,000 preference shares of 125 francs, 8,200 capital shares of 125 francs and 8,200 dividend shares of 12.50 francs (12-(09/01/1948)-468).

Dissolution and liquidation 

The company was dissolved and put into liquidation on May 15, 1957, a liquidator was appointed (12-(15/06/1957)-17089).
The liquidation was closed on 27 June 1958 (12-(17/07/1958)-21187). 

Balance sheet as at 31 December 1956 (12-(15/06/1957)-17090):

victoria bilan


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