DRC state miner Gecamines plans overhaul of copper and cobalt joint ventures
Excavators and drillers at work in an open pit at Tenke Fungurume, a copper and cobalt mine 110 km northwest of Lubumbashi in Congo's copper-producing south in a picture taken on January 29, 2013. PHOTO | REUTERS
The Democratic Republic of Congo's (DRC's) state miner is broadening a push to extract more from its copper and cobalt joint ventures, seeking to negotiate for higher stakes across the board to gain leverage in management of some of its biggest mines.
Gecamines is also leveraging existing shareholding in mines to negotiate off-take contracts for the purpose of trading copper and cobalt on its own.
