DR Congo: Major investor pulls out


Issue 325 - 10 Jun 2016

One of the largest and most resilient investors in Democratic Republic of Congo, US minerals giant Freeport-McMoRan Copper & Gold (FCX), has announced the sale of its Tenke Fungurume copper and cobalt mine in Katanga to China Molybdenum Company in a $2.65bn deal. Poor economics may finally have persuaded FCX to pull out of DRC, having survived intense political pressure during the years of President Joseph Kabila Kabange’s mining review. The government was not informed before FCX’s 9 May announcement.

Want to read more?

Small article

£4

(Access to one African Energy article)

Subscribe to African Energy

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register