Congo Miner Renegotiates ERG Joint Venture to Boost Revenue
- Gecamines has vowed to remodel accords with foreign investors
- Company boosts stake in copper, cobalt producer Boss Mining
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Democratic Republic of Congo state mining company Gecamines said it renegotiated a joint venture with Eurasian Resources Group Sarl to boost its share of revenue from the project.
It’s the second time this year the company has remodeled agreements with other firms, after ending a dispute with Glencore Plc in June over one of Congo’s biggest copper and cobalt mines. Gecamines Chairman Albert Yuma has repeatedly criticized existing partnerships as too generous to foreign investors.