ENRC Settles with First Quantum

Reuters reported that ENRC has settled a dispute with First Quantum (TSX:FM) regarding the Kolwezi copper-cobalt project.

As quoted in the market news:

ENRC will pay $750 million plus a deferred consideration of $500 million as part of the settlement with First Quantum, the former owner of Kolwezi until its license was revoked by the DR Congo in 2009.

Click here to read the full Reuters report.