{"id":464480,"date":"2019-01-28T15:56:46","date_gmt":"2019-01-28T14:56:46","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464480"},"modified":"2019-01-28T15:56:46","modified_gmt":"2019-01-28T14:56:46","slug":"for-1-14-billion-china-molybdenum-strengthens-its-mining-interests-in-the-drc","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/01\/28\/for-1-14-billion-china-molybdenum-strengthens-its-mining-interests-in-the-drc\/","title":{"rendered":"For $ 1.14 billion, China Molybdenum strengthens its mining interests in the DRC"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Chinese company China Molybdenum has entered into a share transfer agreement with Sino-US BHR to buy back its capital in the Tenke copper mine. The announcement was made on January 18, 2019.<\/p>\n<p>&#8220;The purchase will increase the company&#8217;s control in the Tenke copper mine and further improve the profitability and resilience of the company,&#8221; the Chinese company said in a statement.<\/p>\n<p>Indeed, the agreement aims to increase to 80% the interests of Molybdenum which already owned 56% in the large copper and cobalt Tenke Fungurume mine in the Democratic Republic of Congo (DRC). To do this, it will buy BHR Newwood DRC, holding company holding the stake of BHR, for $ 1.14 billion.<\/p>\n<p>Founded in 1982, the company Molybdenum is a Chinese mining company present in particular in the production of tungsten, cobalt, niobium or copper. In May 2016, it announced the acquisition of the 56% stake of Freeport-McMoRan in the mining complex for 2.56 billion USD.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Chinese company China Molybdenum has entered into a share transfer agreement with Sino-US BHR to buy back its capital in the Tenke copper mine. The announcement was made on January 18, 2019. &#8220;The purchase will increase the company&#8217;s control in the Tenke copper mine and further improve the profitability and resilience of the company,&#8221; the<\/p>\n","protected":false},"author":536749,"featured_media":464483,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12032,12036],"tags":[435,3003,14922],"class_list":{"0":"post-464480","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-commodities-en","8":"category-sectors","9":"tag-china","10":"tag-china-molybdenum","11":"tag-drc","12":"post_format-post-format-aside","13":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>For $ 1.14 billion, China Molybdenum strengthens its mining interests in the DRC - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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