Freeport May Build Railways to Ship Copper, Cobalt From Congo

Bloomberg.com reports that Freeport-McMoRan Copper & Gold Inc.(NYSE:FCX) plans to construct railways to transport cobalt from it’s Tenke project.

The story is quoted as saying:

The resolution of the three-year contract dispute allows the Phoenix-based miner to proceed with plans to expand Tenke and eventually double production, Freeport’s Chief Executive Officer Richard Adkerson said on a conference call today. Tenke Fungurume Mining Sarl, a venture between Freeport, Lundin Mining Corp. and state-owned Gecamines, is Congo’s largest copper miner and currently exports production by road to the port of Durban in South Africa.

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