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CMOC doubles down in DRC with second Freeport deal

Hong Kong and Shanghai-listed China Molybdenum (CMOC) will pay US$550 million – more than ten times the original asking price – for Freeport-McMoran’s Kisanfu copper-cobalt project in the DRC

CMOC doubles down in DRC with second Freeport deal CMOC doubles down in DRC with second Freeport deal CMOC doubles down in DRC with second Freeport deal CMOC doubles down in DRC with second Freeport deal CMOC doubles down in DRC with second Freeport deal

CMOC has agreed to buy Freeport-McMoran's stake in the Kisanfu copper and cobalt project in the DRC

The pair first entered into negotiations in 2016 following CMOC's $2.65 billion purchase of Freeport's stake in the Tenke Fungurume copper-cobalt mine, located 33km north east of Kisanfu.