#China’s CMOC threatens legal action over #Congo cobalt mine export block

JOHANNESBURG, Dec 5(Reuters) – China’s CMOC Group could take legal action against Congo’s state mining company Gecamines, a spokesman for the Chinese mining firm said, after having exports blocked from Tenke Fungurume, the world’s second-biggest cobalt mine, for a fifth month.

Tenke Fungurume Mining (TFM) suspended copper and cobalt exports in July, when a dispute between Congo and CMOC escalated and a temporary administrator appointed by a Congolese court to run the mine ordered CMOC to stop marketing and exporting its production.

Congo’s government says it suspects CMOC understated TFM’s reserve levels to reduce the amount of royalties it pays to Gecamines. CMOC, which was previously known as China Molybdenum, denies having done so.

Read more at: https://www.nasdaq.com/articles/chinas-cmoc-threatens-legal-action-over-congo-cobalt-mine-export-block

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