China Molybdenum: High cobalt tax in DRC to affect cobalt production enterprises' cost
2018-07-20 17:37:33 [Print]
China Molybdenum announced on 19 July that the cobalt tax to be increased by DRC, a major cobalt metals producer in the world, will affect cobalt production enterprises' cost there to some extent.
However, China Molybdenum pointed out that the details of the new mining code implementation, including tax, is still uncertain, and the company is still actively communicating with the DRC government to protect the company's rights and interests to maximum.
According to an announcement from China Molybdenum on 9 May 2016, CMOC Limited, the company's wholly owned subsidiary, acquired 56% interest of Tenke Fungurume in DRC for RMB2.65 billion from American mining giant Freeport-McMoRan Inc.
China Molybdenum engages in mining & processing, smelting, intensive processing and other businesses of copper, molybdenum, tungsten, cobalt, niobium, phosphorus, etc.
However, China Molybdenum pointed out that the details of the new mining code implementation, including tax, is still uncertain, and the company is still actively communicating with the DRC government to protect the company's rights and interests to maximum.
According to an announcement from China Molybdenum on 9 May 2016, CMOC Limited, the company's wholly owned subsidiary, acquired 56% interest of Tenke Fungurume in DRC for RMB2.65 billion from American mining giant Freeport-McMoRan Inc.
China Molybdenum engages in mining & processing, smelting, intensive processing and other businesses of copper, molybdenum, tungsten, cobalt, niobium, phosphorus, etc.
Cobalt Metal 99.8%min Delivered China
Unit:RMB/kg
China cobalt metal producers' output statistics by province by month
Unit: mt
