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CMOC ups Tenke stake in $1.13B deal

China Molybdenum Co (HK: 3993) has agreed to pay BHR Newwood US$1.13 billion to increase its stake in the Tenke Fungurume copper-cobalt mine in the Democratic Republic of Congo.

CMOC ups Tenke stake in $1.13B deal CMOC ups Tenke stake in $1.13B deal CMOC ups Tenke stake in $1.13B deal CMOC ups Tenke stake in $1.13B deal CMOC ups Tenke stake in $1.13B deal

Gains further control of DRC copper-cobalt mine

The Shanghai and Hong Kong-listed company will move from 70% to 100% of a holding company that holds 80% of Tenke.
 
DRC government-controlled Gecamines holds the balance.