Jinchuan International Identifies US$145 Million Misappropriation at DRC Ruashi Copper-Cobalt Mine

Published: Jun 3, 2026 13:57

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Jinchuan International said an independent investigation found that approximately US$145 million was misappropriated at its Ruashi copper-cobalt mine in the Democratic Republic of Congo between 2019 and 2024 through fake procurement contracts, cash payments and fabricated invoices. The probe identified suspicious payments involving multiple suppliers and intermediaries, highlighting weaknesses in procurement and financial controls. The company has reported the case to local prosecutors, suspended cooperation with several implicated suppliers, and initiated a comprehensive review of procurement and payment procedures. Ruashi is one of Jinchuan International’s key copper-cobalt assets in the DRC, and the market is closely monitoring potential implications for future operations.

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