SHANGHAI, May 10 (SMM) – China Molybdenum Co., Ltd. (China Moly) will spend $2.65 billion in cash to buy the 56 percent stake in Tenke Fungurume mine from Freeport-McMoRan.
The Tenke copper project, in the Democratic Republic of Congo, is one of the world's largest copper deposits, and the deal is the second largest acquisition by China Moly in less than two weeks.
China Moly announced late April to buy niobium and phosphates business from Anglo American PLC at $1.5 billion.
The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.
![SHFE Lead Stopped Falling and Rebounded Today, Gradually Returning to Fundamentals-Driven Movement [Lead Futures Brief Review]](https://imgqn.smm.cn/usercenter/ojSqv20251217171720.jpeg)
![LME Lead Edged Up 0.05% Overnight at the Close; SHFE Lead Maintained a Fluctuating Consolidation Trend [SMM Lead Morning Brief]](https://imgqn.smm.cn/usercenter/riosq20251217171722.jpg)
