Congo to hike stake in copper, cobalt venture with China  | Reuters News Agency

Congo to hike stake in copper, cobalt venture with China 

Reuters exclusively revealed that The Democratic Republic of Congo aims to boost its stake in a cobalt and copper joint venture with Chinese firms to 70% from 32%, on concerns the deal gives away too much of Congo’s resources with little benefit to the country.

Market Impact

An ad hoc commission created in March to harmonize the negotiating positions of the Congolese institutions said Congo should seek a 60% stake in Sicomines for Gecamines and its subsidiary, a non-dilutable 10% stake for the state, and 30% for the Chinese companies, to make the joint venture deal fairer for Congo. 



Article Tags
Type: Reuters Best
Sectors: Commodities & Energy
Regions: AfricaAsia
Countries: ChinaCongo
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
eikon_5.25.23_congo hike
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