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CMOC Deal Signals A New Moment in China-DRC Relations, With Possible Global Impacts

Shares in China Molybdenum (aka CMOC) jumped by 10% in Shanghai and 12% in Hong Kong on the news that the mining giant reached a deal with the Democratic Republic of Congo that will allow it to resume copper and cobalt exports from the Tenke Fungurume mine, one of the world’s largest sources of cobalt.

Twin disputes around Tenke Fungurume and patchy delivery of infrastructure as part of the DRC’s controversial Sicomines deal with China have strained Kinshasa’s relationship with China. Now, that seems set to change.

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