DR Congo's Gecamines opposes sale of cobalt miner Chemaf.pdf

7/9/24, 12:34 AM DR Congo's Gecamines opposes sale of cobalt miner Chemaf https://www.miningweekly.com R/€ = 19.6043 R/$ = 18.1079 Au 2356.53 $/oz Pt 1000.90 $/oz sponsored by NE...

7/9/24, 12:34 AM DR Congo's Gecamines opposes sale of cobalt miner Chemaf https://www.miningweekly.com R/€ = 19.6043 R/$ = 18.1079 Au 2356.53 $/oz Pt 1000.90 $/oz sponsored by NEWS PORTALS MAGAZINE RESEARCH LOGIN AFRICA AMERICAS AUSTRALASIA EUROPE SET DEFAULT EDITION HOME NEWS POPULAR BACK COBALT DR Congo's Gecamines opposes sale of cobalt miner Chemaf READ NOW Photo by Bloomberg Incident description Exposed data 2nd July 2024 By: Reuters The Miningweekly.com website experienced a data breach. Over 23 thousand email Font size: - + addresses were exposed, together with credential data. Leaked records include Email Password Password hash D password and password hash. The validity of the data exposed couldn’t be verified. emocratic Republic of Congo's State miner Yet we’re still informing you about a potential data breach – but keep in mind Gecamines there’s a chance of it being a false positive. said on Monday it would not approve the sale of cobalt miner Chemaf and No. of exposed its Congolese assets to Chinese miner Norin Mining. accounts 23,263 3 Shares Safety warning: This website has been breached or has been part of a data leak. Powered by https://www.miningweekly.com/article/dr-congos-gecamines-opposes-sale-of-cobalt-miner-chemaf-2024-07-02 1/11 7/9/24, 12:34 AM DR Congo's Gecamines opposes sale of cobalt miner Chemaf Gecamines leases these assets to Chemaf, which on Thursday said it had agreed a sale to a unit of Chinese State-backed China North Industries Corp (Norinco) to settle debts largely funded by Chemaf's long-time partner, commodities trader Trafigura. R/€ = 19.6043 R/$ = 18.1079 Au 2356.53 $/oz Pt 1000.90 $/oz sponsored by NEWS PORTALS MAGAZINE RESEARCH LOGIN In a statement, Gecamines said it had the right of approval and its board had voted to reject the deal. Responding in its own statement, Chemaf said it had not heard directly from Gecamines about its sale plans and hoped to engage further with the state miner in order to secure its approval. The family-owned copper and cobalt miner offered itself for sale last year due to a cash crunch that was stalling the expansion of its Etoile and Mutoshi projects in DR Congo as cobalt prices slumped. China's miners, most of which are State-backed, have become the biggest investors in DR Congo as the world's second-largest economy aggressively pursues copper and cobalt supplies for its rapidly expanding electric vehicle industry. Edited by Reuters BACK TO TOP Comments Incident description Exposed data The Miningweekly.com website experienced a data breach. Over 23 thousand email addresses were exposed, together with credential data. Leaked records include Email Password Password hash password and password hash. The validity of the data exposed couldn’t be verified. Yet we’re still informing you about a potential data breach – but keep in mind there’s a chance of it being a false positive. No. of exposed accounts 23,263 3 Shares Safety warning: This website has been breached or has been part of a data leak. Powered by https://www.miningweekly.com/article/dr-congos-gecamines-opposes-sale-of-cobalt-miner-chemaf-2024-07-02 2/11