Congo’s Gecamines Opposes Deal for Trafigura-Backed Miner
- Gecamines leases Mutoshi copper cobalt permit to Chemaf
- Chemaf says Congo’s government has approved the deal
A motorcycle rides past the Gecamines mining complex in Lubumbashi, Democratic Republic of Congo.
Photographer: Patrick Meinhardt/AFP/Getty Images
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Democratic Republic of Congo’s state-owned miner Gecamines said it will oppose the sale of Trafigura Group-backed miner Chemaf Resources Ltd. to China’s Norin Mining Ltd.
Chemaf leases the permit for its flagship Mutoshi project from Gecamines, which said in a statement Monday that it has the right to reject the ownership transfer. Chemaf said in response that Congo’s government has approved the transaction.