SHANGHAI, Aug. 16 (SMM) - China Nonferrous Metal Mining (Group) Co. (CNMC) is expected to invest $2 billion in Gecamines’ copper resources, which is considered as the company’s most promising mine, according to wallstreetcn.com.
CNMC will hold a 51% stake in Gecamines’ copper plant with initial output of 80,000 tonnes per year.
Gecamines is the largest mining company in the Democratic Republic of Congo, and its copper output peaked in 1990 at 465,000 tonnes. Congo is Africa's leading copper producer.
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