[miningmx.com] – GECAMINES, the state-owned base metals company of the Democratic Republic of Congo has signed an agreement with a Chinese company to build two factories aimed at lifting copper output, said Reuters.
In terms of a non-binding memorandum of understanding, China Nonferrous Metal Mining Company will build two factories producing 115,000 tonnes/year of copper cathode. It was unclear when negotiations would conclude, said Reuters.
Gecamines’ copper production peaked close to 500,000 tonnes annually in 1986 but has tumbled due to political upheaval, mismanagement and the sell-off of assets to private investors. The company produced just 15,000 tonnes of copper in 2014, said Reuters.
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