China Moly capitalises on its increased share in Tenke Fungurume Mining
Against a backdrop of recovering red metal prices, Tenke Fungurume Mining (TFM), the country’s largest copper mine run by Simon Tuma Waku, the DR Congo’s former Minister of Mines, is on an annual trend close to 9%.
12/11/2020 at 08h18, by Pierre-Olivier Rouaud
Despite issues such as disputed terms in its takeover by Chinese state-owned group China Molybdenum (CMOC, known as China Moly), operating difficulties, the global health crisis and fiscal uncertainties in the sector, the Tenke Fungurume copper mine is running at full capacity. Over the first nine months of the year, production jumped by 7.15% to 141,966 tonnes, according to the latest accounting data from China Moly, which is partly listed in Hong Kong.
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