Congo's Tenke Mine Cobalt Export Was Suspended

LuoYang Molybdenum Industry responded to "Congo's Tenke mine cobalt export was suspended": the interim manager has no right to stop the export

Abstract: Tenke Fungurume Mining SA, one of the largest copper and cobalt producers in the Democratic Republic of Congo, has reportedly been led by a court-appointed administrator to block its exports of copper and cobalt as tensions grow between shareholders of Tenke Fungurume Mining SA.

According to reports, as the tension between the shareholders of Tenke Fungurume Mining SA, one of the largest copper and cobalt producers in the Democratic Republic of Congo, intensifies, it may lead to a court-appointed administrator to prevent it from exporting copper and cobalt.

CMOC responded that Ngoie has no right to stop exporting. Its Tenke spokesman, Vincent Zhou, said in an emailed response on Friday that Tenke "has been under the lawful and effective control of the management team nominated by the CMOC". "Production and operations including transportation and export are normal."

Ngoie took over Tenke last month with the consent of Gecamines, but CMOC prevented him from entering the mine.

"No one has the right to interfere in the operation of TFM," Zhou said. "The letter from the so-called interim administrator, without the approval of TFM's general meeting and board of directors, is not binding on TFM, nor does it represent TFM's wishes to external parties. The company said it reserves "the right to pursue legal responsibility against the relevant persons".