A copper-mining joint venture between Democratic Republic of Congo's state miner and two Chinese companies, agreed on in 2007 as part of a minerals-for-infrastructure deal, has produced its first copper, the mines ministry said. The Sinohydro Corp and China Railway Group Limited companies have pledged to build $3 billion worth of roads, railways and other infrastructure in Congo in return for a 68 percent stake in Sicomines, the joint venture in the southeast of the country, Africa's top copper producer.
The chief of staff to the mines minister, Valery Mukasa, said production was launched on Friday at a ceremony attended by mines minister Martin Kabwelulu. China's state-run Exim Bank is providing most of the financing for the copper mine, which is one of the largest in the world.
Comments
Comments are closed.