https://en.sputniknews.africa/20240705/us-sought-to-block-sale-of-drc-copper-mine-to-chinese-defense-company-report-says-1067391160.html
US Sought to Block Sale of DRC Copper Mine to Chinese Defense Company, Report Says
US Sought to Block Sale of DRC Copper Mine to Chinese Defense Company, Report Says
Sputnik Africa
WASHINGTON (Sputnik) – US officials intervened to block the sale of a Democratic Republic of the Congo copper mine to a Chinese defense manufacturer, the... 05.07.2024, Sputnik Africa
2024-07-05T18:41+0200
2024-07-05T18:41+0200
2024-07-05T18:55+0200
sub-saharan africa
democratic republic of the congo (drc)
central africa
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united states (us)
china
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The sources said that US officials sought for Congolese state miner Gecamines to review the sale of Chemaf Resources to Norin Mining, which is a subsidiary of the Chinese state-owned defense company Norinco, in order to curb Beijing’s control of critical minerals. Gecamines leases to Chemaf the permit for its flagship mining project, Mutoshi. Norinco had planned to acquire Chemaf's Mutoshi and Etoile mines and other mining licenses. Gecamines said that its board vetoed the sale because it should have been informed of it in advance and that any changes in control required its approval. However, Chemaf said that it had notified Gecamines of the sale prior to its announcement. It said the sale had also been approved by Congo’s mining minister.
https://en.sputniknews.africa/20240703/dr-congo-pioneering-direct-copper-sales-from-joint-ventures-1067349156.html
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democratic republic of the congo (drc), central africa, economy, united states (us), china, mining, minerals, defense, minister
democratic republic of the congo (drc), central africa, economy, united states (us), china, mining, minerals, defense, minister
US Sought to Block Sale of DRC Copper Mine to Chinese Defense Company, Report Says
18:41 05.07.2024 (Updated: 18:55 05.07.2024) WASHINGTON (Sputnik) – US officials intervened to block the sale of a Democratic Republic of the Congo copper mine to a Chinese defense manufacturer, the Financial Times reported on Friday, citing unnamed sources.
The sources said that US officials sought for Congolese state miner Gecamines to
review the sale of Chemaf Resources to Norin Mining, which is a subsidiary of the Chinese state-owned defense company Norinco, in order to curb Beijing’s control of critical minerals. Gecamines leases to Chemaf the permit for its flagship mining project, Mutoshi.
Norinco had planned to acquire Chemaf's Mutoshi and Etoile mines and other mining licenses.
Gecamines said that its board vetoed the sale because it should have been informed of it in advance and that
any changes in control required its approval. However, Chemaf said that it had notified Gecamines of the sale prior to its announcement. It said the sale had also been approved by Congo’s mining minister.
