TSXV:FCO.H - Post by User
Post by
notmuchmoreon Sep 28, 2016 9:41am
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Post# 25285102
Chinese ownership of Tenke still being decided
Chinese ownership of Tenke still being decidedIf China buys Freeport's 56% ownership of Tenke Fungurume , one of the largest copper/cobalt deposits in the world, producing 11,000 tpa cobalt hydroxide in the DRC, the market dynamics of cobalt will be affected by China's control---remember Mountain Pass rare earths?. So I keep abreast of developments with Tenke, and offer the following current news quote: "A $2.65 billion disposal of its 56 percent stake in the Tenke Fungurume copper mine in the Democratic Republic of Congo is in limbo almost five months after it was announced. Second-largest shareholder Lundin Mining is still deciding whether to exercise rights to acquire the interest ahead of the agreed buyer, China Molybdenum, or alternatively to stand pat or sell its own holding."---https://www.stockhouse.com/companies/bullboard/t.fco/formation-metals-inc?replyto=0