CMOC to give Ningbo Shanshan priority over cobalt products if Tenke production is expanded

China Molybdenum Co (CMOC) has signed a strategic corporation framework agreement with Ningbo Shanshan under which the latter will be given priority to purchase cobalt products if production is expanded at Tenke Fungurume’s copper-cobalt mine in the Democratic Republic of Congo (DRC).

“Signing this framework agreement with Ningbo Shanshan doesn’t mean China Molybdenum will ramp up output in Tenke in the near term,” a source close to the company told Metal Bulletin. “However, it is beneficial to both parties if an initial corporation framework is set up.” Through the framework agreement, CMOC and Ningbo Shanshan will also seek to establish a strategic partnership relation for the acquisition of cobalt and lithium resources...

Published

Susan Zou

July 13, 2017

10:16 GMT

Shanghai