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    Home > Inorganic Chemistry Topics > Inorganic Chemistry Project > Luoyang Molybdenum acquired a controlling stake in Congo’s largest copper and cobalt mine for US$2.65 billion

    Luoyang Molybdenum acquired a controlling stake in Congo’s largest copper and cobalt mine for US$2.65 billion

    • Last Update: 2022-02-26
    • Source: Internet
    • Author: User
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    American mining giant Freeport-McMoRan announced on Monday that it has agreed to sell a controlling stake in Tenke Fungurume, Congo’s largest copper-cobalt mine, to Luoyang Molybdenum for US$2.
    65 billion (approximately RMB 17.
    2 billion)

    .
    This is the second M&A transaction reached by China Molybdenum in less than two weeks.
    The group just announced at the end of last month that it would acquire Anglo American’s niobium and phosphate ore assets in Brazil for US$1.
    5 billion

    .
    This is also the world's largest copper mine transaction since Glencore sold Peru’s Las Bambas copper mine for US$6 billion in 2014

    .
    This transaction brings the total amount of overseas mergers and acquisitions announced by Chinese companies so far this year to about 100 billion US dollars, close to 104 billion US dollars last year

    .
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