[miningmx.com] – THE Democratic Republic of Congo (DRC) approved the sale of a 49.5% stake in the Kamoa copper project by Ivanhoe Mining to Zijin Mining Group, said Bloomberg News.
In an e-mailed statement cited by Bloomberg News, the DRC’s mines minister, Martin Kabwelulu and Louise Munga Mesozi, minister of portfolio, said that as part of the transaction, Ivanhoe had agreed to increase the government’s stake in the local operating company Kamoa Copper SA to 20% from 5%.
The transaction, initially announced in May, was originally blocked by the government, which ordered a legal review of the sale in June, stating that it needed to complete discussions about raising its own stake in the project, said Bloomberg News.
Click here to read the full article
