1923: Compagnie Minière des Grands-Lacs (MGL) opgericht als dochter van CFL (groep Empain)

The Compagnie Minière des Grands-Lacs (MGL), a subsidiary of the Compagnie des Chemins de Fer des Grands Lacs (CFL), was established in 1923.[2] MGL was to exploit mines in the Orientale Province and Kivu Province. Proceeds would finance construction of the central Lualaba railway joining Katanga Province to Orientale Province by way of Kivu Province.[4] In 1927 the MGL share capital was increased to 20 million francs.[2] MGL was one of the five largest companies in the Belgian Congo (by market capitalization) before the Wall Street Crash of 1929, the others being the Union Minière du Haut-Katanga (UMHK), Géomines, Compagnie du Katanga and Compagnie du Congo pour le Commerce et l'Industrie.[5]