DRC Approves Tenke Fungurume ProjectFinally! This is what all have been waiting for the last couple of years. Now we´re going for 13 CAD initially according to Paradigm Capital.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 2, 2005) - Tenke Mining Corp. (TSX:TNK - News; the "Company") is pleased to announce that amended agreements for the development of the Tenke Fungurume Copper/Cobalt Project have been formally approved by Gecamines and the Government of the Democratic Republic of Congo ("DRC") and ratified by Presidential decree. These agreements govern the Company's rights in partnership with Phelps Dodge Corporation ("Phelps Dodge") to develop the Tenke Fungurume Copper/Cobalt Project in Katanga Province, DRC. Tenke Mining Corp. will have an effective 24.75% interest in what is considered the largest and highest-grade undeveloped copper/cobalt project in the world today.