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China’s Enhances Its Dominant Role in the Congolese Mining Sector With Massive New $2.5 Billion Investment

File image of the processing plant at China Molybdenum’s Tenke Fungurume mine in the Democratic Republic of the Congo.

The state-owned China Molybdenum Co (aka China Moly) recently announced a massive new $2.5 billion investment in its Tenke Fungurume mine (TFM) in southeastern DR Congo that aims to double its copper and cobalt output, critical raw materials used to manufacture batteries for electric vehicles.

The new investment will be used to build three new ore production lines at TFM with a planned launch date sometime in 2023.

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