Deal #5419

Location #1

Spatial accuracy level
Exact location
Location
Tenke, Democratic Republic of the Congo

Latitude
-10.572793421812394
Longitude
26.188119237011733
Target country
Congo, Dem. Rep.

Land area

Intended size (in ha)
150000
Size under contract (leased or purchased area, in ha)
[2016] 150000
Comment on land area
The deposits are located on contiguous concessions which total approximately 1,500 km2=150,000ha

Intention of investment

Intention of the investment
Mining
Comment on intention of investment
cathode copper and cobalt

Nature of the deal

Nature of the deal
Exploitation permit / license / concession (for mineral resources)

Negotiation status

Negotiation status
[2016] Concluded (Contract signed)
Comment on negotiation status
Purchased in 2016 from Freeport- McMoRan.

Implementation status

Implementation status
[2016] In operation (production)
Comment on implementation status
Construction started in 2006. First brought into production in 2009.

Contract farming

Contract farming
No

Operating company

Comment on investment chain
TF Holdings Limited is a Bermuda holding company that owns an 80 percent interest in Tenke Fungurume Mining S.A. ("Tenke"). Lundin Mining has an indirect 30 percent interest in TF Holdings and therefore, an effective 24 percent interest in Tenke. On November 16, 2016 China Molybdenum Co., Ltd announced that it had completed the purchase of Freeport- McMoRan's 70 percent indirect interest in TF Holdings Limited.

 

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Data source #1

Data source type
Company sources
File

Data source #2

Data source type
Media report
File
Date
2016-08-03
Comment on data source
Oxfam- DRC’s largest mine was just sold. And DRC got nothing.

Data source #3

Data source type
Company sources
File

Data source #4

Data source type
Media report
File
Date
2016-05-09
Comment on data source
Reuters- Freeport to sell prized Tenke copper mine to China Moly for $2.65 billion

Data source #5

Data source type
Media report
File
Date
2016-10-19
Comment on data source
Mining.com-- Congo takes Freeport, Lundin to court over sale of Tenke Fungurume

Former land owner (not by constitution)

Former land owner
Private (large-scale farm)
Comment on former land owner
The majority share in the project was sold by Freeport- McMoRan to Molybdenum Co., Ltd in 2016 (56% interest).

Former land use

Former land use
Other
Comment on former land use
Mine

Former land cover

Former land cover
Other land (e.g. developed land – specify in comment field)

Detailed crop, animal and mineral information

Resources area
Cobalt, Copper

Use of produce

Has export
Yes

In country processing of produce

In country processing of produce
Yes

Water extraction envisaged

Water extraction envisaged
Yes

April 4, 2017, 12:50 p.m.

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