Tenke Fungurume copper/cobalt project update

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Thu, Feb 4, 2010
Copper Company News
Post by Researcher , Copper Researcher

It was reported that Democratic Republic of Congo expects to finalise negotiations and talks with U.S. miner Freeport McMoRan Copper & Gold Inc over the jointly owned $900 Tenke Fungurume copper/cobalt project.

The press release is quoted as saying:

The mine, in which in which Freeport (FCX.N) holds a majority stake, is widely considered to be the largest and highest grade undeveloped copper and cobalt project in the world. It is situated in mineral-rich Katanga province. The DRC has reviewed 61 mining licenses, and approved 43 but rejected 17 contracts in its bid to transform the mining sector. The Freeport issue is the only oustanding matter.

Click here to access the entire press release

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