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

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