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China Moly Wants Third-Party to Resolve Congo Mine Dispute

  • Congo demanding more royalties for China Moly’s Tenke project
  • Gecamines to suspend court case while government negotiates
The Tenke Fungurume mine in the Democratic Republic of Congo.

The Tenke Fungurume mine in the Democratic Republic of Congo.

Source: Google Maps

Updated on

China Molybdenum Co. endorsed the involvement of an independent third-party to resolve its dispute with Democratic Republic of Congo over new royalty payments for its massive Tenke copper and cobalt mine, according to a statement posted on the company’s website Wednesday.

Congo announced Tuesday that state-owned miner Gecamines would suspend its court case against China Moly’s Tenke Fungurume Mining SA while the two sides try to negotiate a deal. Last month, a Congolese court appointed a temporary administrator to run the mine after Gecamines accused China Moly of refusing to share technical information about the project, including the size of its mineral reserves.