China Moly to Buy Tenke Copper Mine at $2.65 billion from Freeport-Shanghai Metals Market

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China Moly to Buy Tenke Copper Mine at $2.65 billion from Freeport

Company News 03:31:36PM May 10, 2016 Source:SMM

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.


China Moly to Buy Tenke Copper Mine at $2.65 billion from Freeport

Company News 03:31:36PM May 10, 2016 Source:SMM

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.