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

Wed Sep 7, 2016 3:48am EDT
 
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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 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 for $2.65 billion.

Toronto-based Lundin Mining, which holds a 24 percent stake, has until Sept. 15 to exercise its right of first offer before the deal goes through. (Reporting By Aaron Ross; Editing by Nellie Peyton and Dale Hudson)