Congo will get 1.2% royalty from Sicomines copper-cobalt mine Gecamines will market 32% of mine’s production, Sicomines says
The Democratic Republic of Congo is set to receive $7 billion in financing as part of a revamped minerals-for-infrastructure contract with China, according to the mining company at the heart of the agreement.
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The accord will give the DRC’s state-miner Gecamines a 1.2% royalty on the proceeds of a copper-cobalt venture known as Sicomines and the right to market 32% of its output, Sicomines said in a post on X. It’s “a significant step in promoting new development in cooperation between China and the DRC,” it said.
Source: Bloomberg
