Congo’s State Miner Bids for Trafigura-Backed Cobalt Projects
- Gecamines sent an offer to Chemaf, person familiar says
- State company looks to supplant bid by China’s Norin Mining
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Democratic Republic of Congo’s state-owned miner has submitted a bid for Chemaf Resources Ltd.’s unit in the country, months after saying it intended to block a previous deal to sell the copper and cobalt producer to a Chinese investor.
Chemaf — backed by Trafigura Group — spent nine months looking for a buyer before announcing the sale in June to China’s Norin Mining Ltd. Chemaf says it is still working to close that deal, but it has drawn opposition from the government and state miner Gecamines, which owns a key permit that Chemaf leases for its flagship project.