January 26, 2017 / 3:52 PM / in 9 months

Freeport-McMoRan paid Congo's Gecamines $33 mln to settle Tenke dispute

KINSHASA, Jan 26 (Reuters) - Freeport-McMoRan Inc paid $33 million to resolve claims brought against it by Congo state miner Gecamines over the sale of its majority stake in the Tenke copper mine to China Molybdenum Co Ltd (CMOC), it said in a statement.

The settlement, revealed in the company’s fourth quarter 2016 earnings statement, ends actions including a complaint before the International Chamber of Commerce, Freeport-McMoRan said. CMOC purchased the 56 percent stake in May for $2.65 billion.

Reporting by Aaron Ross; Writing by Joe Bavier; Editing by Elaine Hardcastle

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below