China’s CMOC Gets Congo to Free Up Stockpile of Copper and Cobalt

CMOC and its Congo state-owned partner Gécamines reached a “consensus on the royalties issue” at the Tenke Fungurume operation

(Bloomberg) — China’s CMOC Group Ltd. made a breakthrough in a long-running spat over mining royalties in the Democratic Republic of Congo, potentially paving the way for its massive stockpile of battery metals to start flowing to global markets.

CMOC and its Congo state-owned partner Gécamines reached a “consensus on the royalties issue” at the Tenke Fungurume operation, according to a Hong Kong stock exchange filing Wednesday. Exports from Tenke — a major source of copper and one of the world’s biggest cobalt mines — have been blocked by Congolese authorities since last July because of the dispute.