- August 10, 2021
- Posted by: adminer
- Category: International, Trade and Industry
China Molybdenum Co., Ltd. announced recently that it plans to invest 2.51 billion U.S. dollars in the Tenke Fungrume Mining (TFM) copper-cobalt mixed mine project in the Democratic Republic of Congo (DRC).
According to a filing to the stock exchange under the project, three production lines would be built, including a mixed ore production line with an annual capacity of 3.5 million tonnes.
The other lines are an oxidized ore production line with an annual capacity of 3.3 million tonnes and another mixed ore production line with an annual capacity of 5.6 million tonnes, the lines are expected to go into operation in 2023.
Upon completion, the project is expected to increase the average annual output of copper by about 200,000 tonnes and cobalt by about 17,000 tonnes.