M&A

China Moly buying mines

CHINA Molybdenum Co has done its second major deal in the past two weeks, agreeing to buy debt-laden Freeport-McMoRan's 56% interest in the world class Tenke Fungurume copper-cobalt mine in the Democratic Republic of Congo for $US2.65 billion.

Michael Quinn
China Moly buying mines

The deal would give it the major stake in a mine that last year produced 204,000 tonnes of copper and 16,000t of cobalt at a net cash cost of about $1.21 per pound of copper. Canadian diversified miner...

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