Mining: DRC discloses sale to Mutanda

THE Democratic Republic of Congo’s (DRC’s) Gecamines disclosed the sale of a copper mine to Glencore’s Mutanda unit after the International Monetary Fund and the Carter Center criticised its lack of transparency. A joint-venture between the state-owned copper and cobalt mining house and Dino Steel sold the Chabara mine permit to Mutanda on February 18 as it was “overrun in a permanent way” by independent diggers and therefore difficult to develop, Gecamines said. Gecamines received $10 million (R122.7m) for its 30 percent stake in the venture. – Bloomberg