Glencore Unit Buys Congo Copper License in Unannounced Deal
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Gecamines, the Democratic Republic of Congo’s state-owned mining company, with a local partner sold a mining concession to Glencore Plc’s Mutanda copper and cobalt venture without announcing the deal.
When Congo failed to publish a similar deal in June 2011 the International Monetary Fund canceled a $551 million loan program, of which about half had been released, to the country because it broke transparency conditions.