Tag: China Molybdenum (CMOC)
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Unpacking the CMOC Deal: What Do We Know So Far?
The newly-announced deal between the Chinese mining giant CMOC and the DRC’s state mining company Gécamines is raising many questions. We asked our Francophone editor Christian-Géraud Neema, who is also an expert on DRC mining, to clue us in: WHAT DO ...
China’s CMOC Reaches Breakthrough Contract Settlement Deal With DRC Over the TFM Cobalt Mine
The Chinese mining giant CMOC announced on Wednesday that it finalized a deal with the DR Congo's state-run mining company Gécamines over royalty payments for the massive Tenke Fungurume (TFM) copper and cobalt mine. CMOC said in a statement published on ...
Chinese Mining Giant CMOC Bats Back Fresh Rumors Its TFM Cobalt Mine in the Congo Has Been Suspended
Chinese mining giant CMOC (previously known as China Molybdenum) denied new rumors that Congolese authorities had shut down operations at its massive TFM copper and cobalt mine in the southern DRC. "At present, TFM's production and operation are normal,"
Chinese Battery Giant CATL Bets on the Future of Cobalt By Buying a Big Chunk of CMOC
Strong demand for electric vehicles around the world helped to triple profits at Chinese battery giant CATL, the world's largest battery maker. The company is reporting that third-quarter profits for the year will reach $1.23 billion. CATL is going to use ...
Sicomines Boss Moves to Bolster Ties in Kinshasa to Avoid the Problems Other Chinese Mining Companies Face in DRC
The head of one of China's largest mining companies in the DR Congo, Li Sheng, traveled last week from the southern cobalt and copper belt in the south to do some in-person lobbying in the capital Kinshasa.
CMOC’s Cobalt Earnings Jump as Prime Minister’s Mediation Attempt Falters
China Molybdenum (aka CMOC/China Moly), the Chinese minerals giant running one of the Democratic Republic of Congo’s largest cobalt mines, has reported record net profits of about $606 million for the first six months of the year. Profits are up 72% year-on-year, despite ongoing disputes between CMOC and Gecamines, the DRC’s ...
DRC Prime Minister to Intervene in Cobalt Dispute
Jean-Michel Sama Lukonde, the Prime Minister of the Democratic Republic of Congo, will host new negotiations between the state mining company Gecamines and the giant Chinese cobalt miner China Molybdenum (CMOC). The intervention is aimed at breaking the deadlock between the two, due ...
Who is behind China Molybdenum in the Democratic Republic of Congo?
Who exactly is controlling the Democratic Republic of Congo’s Tenke Fungurume Mine (TFM), one of the largest copper and cobalt mines in the world, remains a mystery. Officially, the Chinese mining giant China Molybdenum (CMOC) is in a partnership with the DRC’s state-owned mining company Gécamines ...