[miningmx.com] – THE Democratic Republic of Congo’s (DRC’s) state-owned mining company, Gecamines, is to sell its 20% stake in Kamoto Copper in order to raise funds for other projects, said Bloomberg News.
Citing Gecamines chairman, Albert Yuma, Bloomberg News said the company had been in discussions with 14 other companies. Kamoto Copper is 75% owned by GlencoreXstrata.
“We’ve been in discussions with 14 groups who’ve gone through a tender and the process is ongoing,’ Yuma said. GlencoreXstrata had the right of first refusal on the stake in the company, he added.
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