Freeport will sell Tenke Fungurume to China Molybenum for $2.65bn

摘要

Freeport-McMoRan will sell its stake in the holding company for theTenke Fungurume copper-cobalt mine in the Democratic Republic ofCongo (DRC) to China Molybdenum.The deal will be for $2.65 billion in cash and up to $120 million inpotential future market-linked payouts.In addition to the sale of its stake in Bermuda-based TF Holdings,Freeport has also agreed to enter exclusive talks with ChinaMolybdenum to sell its interests in Freeport Cobalt for $150 million,which will give China Moly control of the Kokkola cobalt refinery inFinland and the Kisanfu exploration project in the DRC.