DRC: Chinese Companies Are Betting Heavily on Democratic Republic of Congo’s Mines

Dec 27, 2020 | Jevans Nyabiage, South China Morning Post
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Chinese companies are betting big on the Democratic Republic of Congo (DRC)’s mining industry as copper prices surged to a seven-year high driven by China’s strong recovery and the push for electric cars. Chinese mineral mining and exploration giant, China Molybdenum Co. (CMOC), cemented its grip on the DRC’s mining industry after it acquired Arizona-based mining company, Freeport-McMoRan’s indirect 95 per cent interest in the Kisanfu copper-cobalt deposit for US$550 million.