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How China’s CMOC Came Out Ahead in $2 Billion Settlement to End Congo Mining Feud

Press release published by the Chinese cobalt mining giant CMOC announcing the financial terms of its resolution with the Congolese state mining company Gécamines.

Chinese mining giant CMOC announced that it has settled a years-long dispute with the DR Congo’s state-run mining company Gécamines that both sides hope will conclude a bitter feud between the two firms over royalty payments from the massive Tenke Fungurume mine (TFM), one of the world’s largest copper and cobalt mines.

Tuesday’s announcement puts an end to the dispute over royalties claimed by Gécamines, which accused CMOC of understating the mine’s reserves.

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