Chinese firm stripped of control of Congo cobalt mine
The mine is one of the world's largest sources of cobalt.
In Summary
• It accuses China Molybdenum, the firm that has owned the Tenke Fungurume mine for the past six years, of understating its reserves.
• The Chinese company has denied the allegation.
by BBC NEWSNone
Africa
01 March 2022 - 12:30
Democratic Republic of Congo has one of the largest deposits of cobalt in the world
Image: BBC/GETTY IMAGES
A court in the Democratic Republic of Congo has temporarily removed control of a huge copper and cobalt mine from its Chinese owners.
The ruling in favour of the Congolese state mining firm, Gecamines, is part of a dispute in which the government says it is owed billions of dollars.
It accuses China Molybdenum, the firm that has owned the Tenke Fungurume mine for the past six years, of understating its reserves.
CLA - Cobalt related news, page-3460
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