Here is a little information about other DRC deals that have transpired in recent years
Freeport-McMoRan Inc agreed to sell its majority stake in the Tenke copper project in the Democratic Republic of Congo to China Molybdenum Co Ltd (CMOC) for $2.65 billion in cash
Tenke Fungurume, in the southern Congolese copper belt, is one of the world’s largest copper deposits. Producing since 2009, it was 56 percent owned by Freeport, with a 24 percent stake held by Lundin Mining and a 20 percent stake by Gecamines, Congo’s state mining firm.
US-based Freeport-McMoRan has completed the indirect sale of its 70% interest in TF Holdings to China Molybdenum for $2.65 billion in cash. Consequently, it has sold its interest in Tenke mine.
TF Holdings is a Bermuda holding company that indirectly owns an 80% interest in Tenke Fungurume Mining (Tenke), located in the Democratic Republic of Congo. Freeport had a 70% interest in TFHL and an effective 56% interest in Tenke.
https://www.miningreview.com/freeport-completes-sale-interest-tenke/
April 19, 2017 -
Lundin Mining Corporation ("Lundin Mining" or the "Company") (TSX:LUN) (OMX:LUMI)
is pleased to announce the completion of the sale of its indirect interest in
TF Holdings Limited ("TF Holdings") to an affiliate of BHR Partners, a Chinese private equity firm, for
$1.136 billion in cash.
TF Holdings is a Bermuda holding company that owns an 80 percent interest in Tenke Fungurume Mining S.A. ("Tenke") located in the Democratic Republic of Congo. Lundin Mining held an indirect 30 percent interest in TF Holdings and therefore, an effective 24 percent interest in Tenke.
Ivanhoe Mines
Ivanhoe Mines’ Executive Co-Chairman Robert Friedland (above, right) and CITIC Metal
Group President Yufeng “Miles” Sun signed the landmark agreement
Robert Friedland, Executive Co-Chairman of Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), and Lars-Eric Johansson, Chief Executive Officer, today announced the completion of a major strategic equity investment totalling C$723 million (approximately US$556 million) in Ivanhoe Mines by CITIC Metal Africa Investments Limited (CITIC Metal Africa), a direct subsidiary of CITIC Metal Co., Ltd. (CITIC Metal), one of China’s leading international resources companies.
Ivanhoe Mines has issued 196,602,037 common shares to CITIC Metal Africa through a private placement at a price of C$3.68 per share.
CITIC Metal Africa now has become Ivanhoe Mines’ largest single shareholder through its acquired ownership of approximately 19.5%of the company’s issued and outstanding common shares. Mr. Friedland has the second-largest Ivanhoe shareholding, with an ownership stake of approximately 17%.
https://www.ivanhoemines.com/news/2...y-china-based-citic-metal-has-been-completed/
Kamoa-Kakula as the world’sfourth-largest copper discovery.
Kakula , Kansoko(Kakula), Kakula West and Kamoa North potential additional mining areas. Up to three mines, each 6 million tonnes a year, with central concentrator! That would be 18 million tonnes of ore each year!
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As many here know Mineral Resources Wodgina has potentially sold 50% interest to Albermale
- Purchase price for the Sale Interest of US$1.15B in cash (based on a US$2.3B enterprise value for the Wodgina Lithium Project on a 100% basis)
Just shows how cheap AVZ Manono project is right now. Can't wait for the resource upgrade and MET testing to roll in. Just a matter of patience now IMO!
