November 22, 2017 11:19 PM ET

Metals and Mining

Company Overview of Tenke Fungurume Mining S.A.R.L.

Company Overview

Tenke Fungurume Mining S.A.R.L. owns and operates cobalt-copper mines and produces cathodes. The company was founded in 1996 and is based in Katanga, Democratic Republic of the Congo. Tenke Fungurume Mining S.A.R.L. operates as a subsidiary of Freeport-McMoRan Inc.

Katanga,  

Democratic Republic of the Congo

Founded in 1996

Key Executives for Tenke Fungurume Mining S.A.R.L.

Tenke Fungurume Mining S.A.R.L. does not have any Key Executives recorded.

Tenke Fungurume Mining S.A.R.L. Key Developments

Lundin Mining Mulls Options For Tenke Fungurume

Lundin Mining Corporation (TSX:LUN) intends to look for options for Tenke Fungurume Mining S.A.R.L. Lundin Mining and Freeport-McMoran Inc. have agreed to extend the period in which Lundin Mining has the right to acquire Freeport's indirect interest in Tenke Fungurume to September 15, 2016. Lundin Mining, in consultation with its legal and financial advisors, continues to evaluate all its options in connection with its ownership interest in Tenke Fungurume.

Freeport McMoran Looking To Sell Its Stake In Tenke To Chinese molybdenum

The recent news of Freeport-McMoRan Inc. (NYSE:FCX) looking to sell its stake in Tenke Fungurume Mining S.A.R.L. to Chinese molybdenum Co., Lts (SEHK: 3993). China Molybdenum Co., Ltd. is interesting as Lundin Mining holds the rights to stop a transaction via its right of first offer. It seems likely that Lundin will exercise this right to improve its own situation, where it could acquire a smaller share of Freeport's stake and sell off the remaining share to another mining player.

MMG And CITIC Reportedly In Talks For Majority Stake In Tenke From Freeport-McMoRan

MMG Limited (SEHK:1208) is among companies in talks to buy a majority stake in Tenke Fungurume Mining S.A.R.L. from Freeport-McMoRan Inc. (NYSE:FCX), according to people with the knowledge. As Freeport is considering a sale of 56% stake in Tenke, which is expected to fetch approximately CAD 2 billion, other investors such as CITIC Metal Company Limited are also amongst the interested parties according to people with the knowledge of the matter.

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