Gecamines Buys Out JV Partner, Intends to Build $1.5 Billion Processing Plant

Base Metals Investing

Reuters reported that Congo’s Gecamines has announced plans to build a $1.5 billion plant to process the output from two copper mines, recently acquired through a buyout of a joint venture partner.

Reuters reported that Congo’s Gecamines has announced plans to build a $1.5 billion plant to process the output from two copper mines, recently acquired through a with an estimated 5 million tonnes of ore.

As quoted in market report:

Gecamines concluded a deal on Jan. 11 to purchase British Virgin Islands-registered Copperbelt Minerals Limited’s 68 percent stake in the Deziwa and Ecaille C projects in Congo’s mineral-rich Katanga province.

To view the whole Reuters report, click here.