[miningmx.com] – IVANHOE Mines said it had held discussions with the government of the Democratic Republic of Congo (DRC) regarding the sale of a 15% stake in the Kamoa copper project on commercial terms.
This follows comments by DRC mines minister, Martin Kabwelulu in May that the sale of 49.5% in the project by Ivanhoe to Zijin Mining Group for $412m had not been discussed with his government which owns 5% in the project.
“Ivanhoe Mines concurrently is continuing negotiations with the DRC government over the future stake in the Kamoa Copper Project that is to be held by the DRC state,” the company said in a statement.
“There have been no material changes in the negotiation process and both the government and the company remain committed to finalizing an agreement that would apply to a sale to the DRC of a further interest of up to 15% in Kamoa as soon as practicable,” the company said.
