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Nearby Location News

  • Alliance for West Wits’ Derewo project 2016-10-19

    West Wits Mining has entered into a business alliance for its Derewo River Gold project in Papua Province of Indonesia with PT Tobacom Del Mandiri (TDM). The alliance will see TDM required to deliver clear and clean certificates for the Derewo IUP and forestry permits in addition to managing site access and security.

  • Ok Tedi board approves PNG copper mine restart from March 1 2016-02-05
    Papua New Guinea copper miner Ok Tedi Mining Ltd said its board has approved a restart of its operations on March 1, more than five months after the mine was put on care and maintenance when drought cut off its transport links. The move will bring further metal to a copper market which is already reeling from a prolonged downturn in prices and a surge in mine supply just as demand from China cools, forcing high cost producers to cut output or shut down.

Related News

  • Congo miner challenges Freeport sale of Tenke mine in international court 2016-10-19
    Democratic Republic of Congo state miner Gecamines has challenged Freeport McMoRan Inc's sale of its majority stake in the Tenke copper mine at the International Court of Arbitration in Paris, Gecamines said on Wednesday. Gecamines Secretary-general Deogratias Ngele told Reuters that Gecamines had asserted a right of first offer following Freeport's agreement in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
  • Freeport’s Congo mine sale faces more objections from Gecamines 2016-09-23
    Gecamines, the State-owned miner in the Democratic Republic of Congo, said any decision by Lundin Mining to also withdraw from the Tenke Fungurume copper mine could present another obstacle to Freeport McMoRan’s proposed sale of its stake in the project. By exiting at the same time and transferring full ownership of the project to new parties without securing Gecamines’ approval, Lundin and Freeport would be further violating the state-owned miner’s rights, Chairman Albert Yuma said by e-mail Friday. Gecamines must be permitted to match the offers for the stake, or it could stop any deal going through, he said.
  • Congo State miner submits offer for Freeport's Tenke copper project 2016-09-07
    Democratic Republic of Congo's State mining company Gecamines has submitted an offer to buy Freeport McMoRan's majority stake in the Tenke copper project, Gecamines' interim director-general Jacques Kamenga told Reuters on Wednesday. Freeport agreed in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
  • Lundin granted extension to decide on Tenke Fungurume buyout 2016-07-20
    Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF Holdings, with Lundin owning the balance.
  • Freeport may be hiding value of Congo Tenke mine sale – minister 2016-05-13
    Democratic Republic of Congo's mines minister said on Friday that he suspects Freeport-McMoRan is hiding the true value of the sale of its majority stake in the Tenke copper project and should pay taxes on the deal. Freeport, which agreed to sell its 56% stake to China Molybdenum (CMOC) on Monday for $2.65-billion in cash, said it had observed the tax laws. Congolese government officials say they were not informed in advance of the sale.

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