• Update: 2020-08-17 14:10



The Société Minière du Kindu (Somikin) was founded on September 17, 1931, its capital of 2,500,000 francs was represented by 5,000 shares of 500 francs each. The registered office was established in Kindu, the administrative office in Brussels. 

Capital subscription

Of the 5,000 shares, 4,000 were subscribed by: 

Compagnie Générale des Mines, 1,596 shares; Société Industrielle et Minière du Congo Oriental, 1,599 shares; Mr. Etienne Asselberghs, 1 share; Mr. Hippolyte de Mathelin de Papigny, 800 shares; Mr. Marcel Jacques, 1 share; Mr. Paul Seigneur, 1 share; Mr. Georges Ugeux, 1 share; Mr. Paul van den Ven, 1 share.
The subscribed shares were paid up by 20% and a sum of 400,000 was made available to the Company. 

The remaining 1,000 fully paid-up shares were allocated to Compagnie Générale des Mines and Mr. de Mathelin de Papigny for the contribution of their studies, research and acquisition of mining rights, exclusive research permits taken in the Elila et Ulindil.

First Board of Directors 

For the first time, the number of directors was set at seven: 

Etienne Asselberghs, Hippolyte de Mathelin de Papigny, Paul van den Ven, Paul Seigneur, Georges Ugeux, Marcel Jacques, Gustave d'Antrimont.
Messrs Urbain Vaas and Emmanuel de Ber de Laer were appointed commissioners.


Main objective: to organize in the Belgian Congo prospecting and research with a view to discovering, recognizing, studying, acquiring all deposits of any kind, securing all mining rights on the said deposits, and preparing their development. 
In secondary order, for itself and on behalf of third parties, to carry out all mining, industrial, real estate or financial operations related to the above object, to create all companies, to set up all enterprises directly or indirectly related to the mining operations or to all operations mentioned above and in particular the transport, the processing of products or the commercial organization, in order to ensure outlets for them; 
The mining exploitation, the processing of ores or products from the mines envisaged above can only be carried out by subsidiary companies. 
Also and incidentally take an interest by way of contribution, merger, subscription, participation, financial intervention or in any other form in any company or syndicate or enterprises existing or to be created, whose object was analogous or related or which would be of such a nature as to facilitate the use of its properties, concessions and various rights, as well as their products (12-(06-07-08/04/1931)-4072).

Changes in capital, event(s), shareholding(s) 

The purpose of the company was to search for mines in the region open to public prospecting by the Compagnie des Chemins de Fer du Congo Supérieur aux Grands Lacs Africains, which had previously been undertaken by the Elila and Ulindi syndicates. 

1931 - The Company increased its capital to 4,000,000 francs through the creation of 3,000 shares of 500 francs. Société Industrielle et Minière du Congo Oriental took a share in this increase.

Extraction of cassiterite - Manual site (around 1930) (11 P 120)


In the same year, the Company acquired ownership of several gold and taniferous deposits which appeared to be large and rich. Mining tests started at the end of 1931, in the Upper Kama basin, with rudimentary means and on a small scale, proved the value of the deposit. The production of gold in grains and nuggets obtained during the first 3 months of 1932 was about 60 kg. The land granted to Somikin had an area of more than 600,000 hectares. 
Somikin formed, with a large group, two syndicates (one of the gold deposits, the other of the taniferous deposits) to which it contributed its mining rights; their purpose was to continue joint mining research and to each form a mining company. 
Société Minière de Kindu retained a 75% interest in these syndicates. The Société Minière de la Télé was entrusted with the undertaking of the work (21-(1932 T3) -369).
1932 - The Company decided to create 800 dividend shares which were distributed free of charge among the shareholders based on 1 dividend share for 10 capital shares (21-(1955 T4)-3629). 
On March 29, the company "Les Mines d´Or de Kindu (Kinor)" formerly the Union for the Research and Development of Gold Deposits was incorporated with a capital of 5 million; the main shareholders were Intertropical-Comfina, Compagnie des Chemins de Fer des Grands Lacs and Somikin, the latter of which took a stake of 3 million francs. The works were entrusted to the Belgian Company of Mining Enterprises "Cobelmine". Somikin also held a stake in the "Sorekat" Société de Recherches Aurifères au Katanga (21- (1935 T3) -213/214).
In the course of the same year, the syndicate for the tin deposits was transformed into a mining company which took the name " Mines d'Etain de Kindu (Kinetain) " with a capital of 5 million francs of which Somikin received 1,875,000 francs in fully paid up shares; in addition, it subscribed 1,125,000 francs which brought its participation to 60% of the capital in this new company. These two subsidiaries recorded very encouraging results. Production was 15 to 17 kg of gold and 10 to 13 tons of cassiterites per month. 
For its second financial year, Somikin distributed a dividend of 6% (21-(1935 T3)-215). 
On November 8, the Company decided to increase the capital by 1 million to 5 million through the creation of 2,000 shares of 500 francs each, subscribed in cash. On the same day, a further 200 dividend shares were created and distributed among the subscribers of this last increase in the ratio of 1 dividend share for every 10 shares of capital subscribed (21-(1955 T4)-3629).
1937 - In January, the company increased its capital by BEF 3 million by creating 6,000 shares with a par value of BEF 500, bringing the capital to BEF 8 million (21-(1937 T2)-1421). 
At the end of the 1937-38 financial year, Somikin's portfolio consisted of 6,000 capital shares of the Kinor Company; 10,800 capital shares of the Kinétain Company; 320 capital shares and 160 tenths of founder's shares of the Sorekat Company. Somikin devoted its activity to the management of its subsidiaries, the Kinor and Kinétain Companies, in which it held a 60% interest in the capital (21-(1938-T2)-1349).
1949 - On 14 June, the EGM decided to increase the capital by 10 million to 18 million by capitalization of the portfolio's capital gain and by a withdrawal of 550,000 francs from the extraordinary reserve. The same meeting decided to modify the representation of the capital and to cancel all existing shares (capital and dividend shares) and to replace them by 36,000 capital shares of 500 francs each. The old shares were exchanged at the rate of 3 new shares for 2 old shares and 6 new shares for 5/10ths of a dividend share. 
On 13 December, the EGM decided to increase the capital by a further 12 million to 30 million by creating 24,000 shares with a capital of 500 francs which were subscribed by Compagnie Générale des Mines and Société Industrielle et Minière du Congo acting jointly both for themselves and for a group, with the responsibility of offering them at a price of 575 francs per share including the issue premium and costs of 75 francs, in preference to the former shareholders, as an irreducible right, in the proportion of 2 new shares for 3 old shares, and as a reducible right, for the shares not absorbed by the preferential right.

1953 - On 13 August, the EGM decided to cancel the nominal value of the shares and to increase the capital by 45 million francs to 75 million francs by creating 30,0000 new shares without designation of value which were subscribed by the former shareholders at a price of 1,500 francs per share, plus 85 francs for costs. As an irreducible entitlement in the proportion of 1 new share for 2 old shares and as a reducible entitlement for shares not absorbed by the exercise of preferential rights. This increase enabled Somikin to follow the capital increase of the Company Les Mines d'Or et d'Etain de Kindu  "Kinorétain" and to subscribe to it for all its rights.

Cassiterite mine - View of the Géomines slag heaps in Manono (11 P 117)

1955 - For the same reasons as in 1953, on 22 April Somikin carried out a new capital increase of 90 million Congolese francs to bring it to 165 million Congolese francs through the creation of 90,000 new shares at a price of 1,070 francs per share, including 70 francs in costs. The subscription was made on an irreducible basis in the proportion of 1 new share for 1 old share and reducible shares for any new shares that might be available. In the same year, Somikin took an interesting stake in Société Minière Surongo, which was also one of Kinorétain's shareholders. Somikin also subscribed to Surongo's capital increase for all the rights attached to its shareholding. 
The value of the portfolio in the balance sheet as at 30 September 1955 was 165 million Congolese francs. Somikin's activity consisted exclusively in the management of a portfolio comprising: 310,420 shares of Société Les Mines d'Or et d'Etain de Kindu (Kinorétain), 326 shares of Société de Recherches et d'Exploitations Aurifères au Katanga (Sorakat), 500 shares of Compagnie Belge d'Entreprises Minières (Cobelmin), 37 shares of Société Symétain and 95 Series A shares of 1,000 francs Syndicat Minier Africain (Symaf) (21-(1955 T4)-3629 to 3633).

Following Congo's independence, the company opted for Belgian legal status under the law of 17 June 1960 and became a public limited company (Societe anonyme); its registered office was established in Brussels. 

1961 - On 5 April, the EGM decided to reimburse 85 francs net per share and the capital was reduced by 15,300,000 francs to 149,700,000 francs, which was then reduced to 99,700,000 francs to bring it down to 50 million francs, the latter justified by the loss incurred on certain portfolio values. On 12 December of the same year, the AGM decided to reduce the capital by 16,200,000 francs to 33,800,000 francs by reimbursing 90 francs for each of the 180,000 shares. This repayment was made from the proceeds of the realization of various elements of the company's assets. 

1964 - On August 12, the EGM decided to reduce the capital by 14,400,000 francs to 19,400,000 francs by repayment of 80 francs per share.



1965 - On July 8, a new and final reduction of BEF 14,400,000 was decided, bringing the capital to 5 million francs by repayment of BEF 80 for each of the 180,000 shares (21-(1970 T4)-2601 to 2603). 

After 1965, Somikin made four repayments for a total amount of 275 francs. 

Somikin did not distribute any dividends for the financial years 1961 to 1970, but only from 1971 onwards did it resume dividend distribution until Entrema was absorbed by Somikin in 1986. 

On 5 November 1986, Somikin shares were exchanged based on 2 Entrema shares with an 8 att. coupon for 7 Somikin shares with a 44 att. coupon (2-(1988)-130).


Dividends, cotation


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