Congo Won’t Approve Zijin, CAD Fund’s Bid for Platmin
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The Democratic Republic of Congo said it won’t approve a $284 million bid by China’s Zijin Mining Group Co. and the China-Africa Development Fund to buy copper mine developer Platmin Congo because it violates regulations.
The offer is “in violation of applicable regulations,” Alexis Mikandji Penge, the chief of staff for the minister of mining, said in an e-mailed statement. “As a result, it has no effect in the Democratic Republic of Congo.”