CMOC’s Cobalt Earnings Leap as Prime Minister’s Mediation Try Falters – #information
China Molybdenum (aka CMOC/China Moly), the Chinese language minerals big working one of many Democratic Republic of Congo’s largest cobalt mines, has reported file web earnings of about $606 million for the primary six months of the 12 months. Earnings are up 72% year-on-year, regardless of ongoing disputes between CMOC and Gecamines, the DRC’s state-owned mining firm.
Gecamines alledges that CMOC underestimated cobalt reserves on the Tenke Fungurume Mine (TFM) and owes them billions in royalties. In a breakdown of its earnings (in Chinese language), CMOC emphasised its contributions to the DRC:
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