Congo state miner submits offer for Freeport's Tenke copper project

Published 2016-09-07, 03:48 a/m
© Reuters.  Congo state miner submits offer for Freeport's Tenke copper project
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KINSHASA, Sept 7 (Reuters) - Democratic Republic of Congo's state mining company Gecamines has submitted an offer to buy Freeport McMoRan Inc's FCX.N majority stake in the Tenke copper project, Gecamines' interim director-general Jacques Kamenga told Reuters on Wednesday.

Freeport agreed in May to sell its 56 percent stake in Tenke, one of the world's largest copper mines, to China Molybdenum Co Ltd 603993.SS for $2.65 billion.

Toronto-based Lundin Mining LUN.TO , which holds a 24 percent stake, has until Sept. 15 to exercise its right of first offer before the deal goes through.

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