Copying and distributing are prohibited without permission of the publisher

Sodimico, HK-based Fortune will mine Frontier and Lonshi projects

September 02, 2010 - 13:00 GMT Location: Windhoek, Namibia

The Democratic Republic of Congo’s (DRC) Sodimico and Hong Kong-based company Fortune will develop the Frontier and Lonshi projects, the two copper and cobalt operations that the DRC authorities took back from First Quantum Minerals earlier this year

The jv was confirmed by the DRC’s ambassador to South Africa, Bene M’Poko, who is co-ordinating the government’s efforts to attract investment in mining sector. He declined to give further details on the exact identity of Fortune, although China Fortune Holdings, which is listed on the Hong Kong Stock Exchange has copper, lead and zinc operations in China. Fortune will take responsibility for operations at Frontier under the auspices of state-owned miner Sodimico, which was given the mining rights by the DRC government, MB understands. DRC radio...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


subscribe to this feed Comment & analysis

  • COMMENT: When super-cycle poster child BHP Billiton trims its plans...

    BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.

  • LORD COPPER: There is nothing to fear after JP Morgan loss ...

    So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.

  • COMMENT: Keep calm and carry on?

    The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?

Upcoming Events

Most readMost emailed

Popular Searches on MB

MB Glossary


From Aluminium to Zinc...
Search this free glossary on metals