Gecamines Seeks $1 Billion for Copper Plant

Bloomberg reported that DRC state-owned Gecamines is seeking out $1 billion to build a copper plant.

As quoted in the market report:

Gecamines is trying to increase production after decades of dictatorship and war left its infrastructure destroyed and cash reserves depleted. The company produced about 18,500 tons of copper in the 11 months through November, according to data from Congo’s Central Bank. That compares with production of almost 500,000 tons at its peak in the 1980s. The company was targeting 35,000 metric tons of copper production for 2012, Yuma said in July.

To view the whole Bloomberg report, click here.