Environment

Reuters exclusively reports Congo reviewing $6 bln mining deal with Chinese investors

Democratic Republic of Congo’s government is reviewing its $6 billion “infrastructure-for-minerals” deal with Chinese investors as part of a broader examination of mining contracts, Finance Minister Nicolas Kazadi told Reuters. President Felix Tshisekedi said in May that some mining contracts could be reviewed because of concerns they are not sufficiently benefiting Congo, which is the world’s largest producer of cobalt and Africa’s leading miner of copper. His government announced last month it had formed a commission to reassess the reserves and resources at China Molybdenum’s massive Tenke Fungurume copper and cobalt mine in order to “fairly lay claim to (its) rights.”

Article Tags
Topics of Interest: Environment
Type: Reuters Best
Sectors: Commodities & Energy
Regions: AfricaAsia
Countries: ChinaCongo, Democratic Republic of the
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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