November 16, 2016 / 11:42 AM / a year ago

Gecamines 'strongly opposed' to Lundin's Tenke mine stake sale

DAKAR, Nov 16 (Reuters) - Congo state miner Gecamines said on Wednesday it is “strongly opposed” to Lundin Mining selling a 24 percent stake in the Tenke copper mine to a Chinese company, arguing that it has a preemptive right to buy the stake.

Canada’s Lundin announced on Tuesday it had agreed to sell its stake in the project in the Democratic Republic of Congo to Chinese private equity firm BHR Partners for about $1.14 billion in cash. (Reporting by Edward McAllister; editing by Matthew Mpoke Bigg and Jason Neely)

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