At the heart of these exchanges was the issue of cooperation between China and the DRC in the mining sector.
This is part of the win-win axiom, with a view to further strengthening this partnership, which contributes enormously to industrialization, the economy and the well-being of the Congolese population.
According to ZHU Jing, his government’s position is clear in relation to Chinese investors.
Those who are immersed in the illegal exploitation of minerals in the DRC must comply with the laws that govern this sector.
Fyi, fwiw
Battery giant CATL weighs buying stake in miner Jinchuan
Contemporary Amperex
Technology is considering buying a minority stake in Chinese miner Jinchuan Group International
Resources, in the hopes of securing supplies of key battery metals, people with knowledge of the matter said.
Ningde, Fujian-based CATL, which is the world’s biggest electric vehicle battery maker, is in initial discussions with Jinchuan International about acquiring a roughly 10% stake in the miner, said the people, who asked not to be identified as the information is private.
CATL could offer more than one and a half times Hong Kong-listed Jinchuan’s share price, the people said.
Deliberations are at an early stage and CATL could decide against the purchase, the people said.
The deal may require government approval, they said.
CATL, which supplies batteries to Tesla, controls about 30% of the world’s electric vehicles battery market, ahead of South Korea’s LG
Energy Solution which has around 25%.
CATL’s board earlier this month approved a plan to sell as much as 58.2-billion yuan ($9-billion) worth of shares to expand its production capacity.
Jinchuan International operates projects in the Democratic Republic of Congo.
The firm produced 4,200 t of cobalt in 2020, according to its annual report.
Its Kinsenda
underground mine produced over 30,500 t of
copper content in concentrates in 2020.
The miner is developing the Musonoi project in the DRC, Jinchuan said the project has received the required internal and government approvals and construction is proceeding in an orderly manner, the annual report shows.
The
project is expected to produce 7,400 t of cobalt and 38,000 t of
copper a year, according to an investor presentation.
Shares in Jinchuan International jumped as much as 90% after the Bloomberg News report.
The stock rose 37% as of 1:15 p.m. Thursday, giving the company a market value of about HK$18-billion ($2.3-billion).
www.miningweekly.com
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Food for thought on Mining this Monster of Manono
It won't happen overnight, but it will happen
I'm pretty damn sure about that atm
Take that to the DRC Bank
Frank
