China Settles Congo Copper And Cobalt Mining Dispute For $2 Billion

Chinese CMOC Group has settled a dispute with Congo’s state-owned mining firm Gecamines over royalties from one of the biggest copper and cobalt mines in the world, agreeing to pay a total of $2 billion in a settlement fee and accumulated dividends to the Congolese company. CMOC Group, which bought the Tenke Fungurume Mining (TFM) operation in the Democratic Republic of Congo (DRC) in 2016, was locked in a dispute with Congo’s state firm Gecamines for a year, during which copper and cobalt exports from the huge mine were suspended.…