Caixin
Dec 26, 2018 06:20 PM
BUSINESS & TECH

Huayou Cobalt Expands Congo Presence With $147.2 Million Copper Investment

A mining truck drives past an open pit excavation at a copper and cobalt mine in Mutanda, Katanga province, Democratic Republic of Congo, on Aug. 1, 2012. Photo: VCG
A mining truck drives past an open pit excavation at a copper and cobalt mine in Mutanda, Katanga province, Democratic Republic of Congo, on Aug. 1, 2012. Photo: VCG

Zhejiang Huayou Cobalt Co. Ltd. plans to invest $147.2 million in a copper project in the Democratic Republic of Congo (DRC), deepening the Chinese mining company’s presence in the central African country.

The investment — through a local subsidiary — will be used to develop a project located in the Lukuni region of the southern province of Haut-Katanga, the company said in a filing (link in Chinese) with the Shanghai Stock Exchange on Tuesday.

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