China group buys DR Congo copper mine for $2.65 billion

China group buys DR Congo copper mine for $2.65 billion Kinshasa (AFP) May 9, 2016 - US company Freeport-McMoRan said Monday it was selling control in the Tenke Fungurume copper mine in DR Congo to China Molybdenum, giving the Chinese company a strong foothold in the country's rich copper and cobalt reserves. Freeport-McMoRan will offload its 70 percent stake in TF Holdings, which in turn has 80 percent of Tenke Fungurume Mining SA, for $2.6 billion, giving China Molybdenum ... more

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