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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...

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