Gecamines of Congo Studies Selling Stake in Glencore Mine
Gecamines, the Democratic Republic of Congo’s state-owned mining company, may sell its 20 percent stake in Glencore Xstrata Plc (GLEN)’s Kamoto Copper Co. to raise money for other projects, said Chairman Albert Yuma.
“We’ve been in discussions with 14 groups who’ve gone through a tender and the process is ongoing,” Yuma said in an Oct. 3 interview in the Congolese capital, Kinshasa. Glencore’s Katanga Mining Ltd. (KAT), which owns 75 percent of KCC, would have right of first refusal of any sale, he said.
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