situation report

Jun 12, 2018 | 19:12 GMT

1 min read

Congo: China Purchases Shares of Copper Mine

What Happened: Chinese conglomerate Citic Metal Co. agreed to purchase a 20 percent stake in a Congolese mining firm, Ivanhoe Mines Ltd., for $555 million, making Citic Ivanhoe's largest shareholder, Bloomberg reported June 11. 

Why It Matters: The purchase aligns with China's broader strategy to secure natural resource supplies and control new energy supply chains. 

Background: The Democratic Republic of the Congo is Africa's largest producer of copper and cobalt.

Read More: 

Article Search

Copyright © Stratfor Enterprises, LLC. All rights reserved.

Stratfor Worldview

OUR COMMITMENT

To empower members to confidently understand and navigate a continuously changing and complex global environment.

GET THE MOBILE APPGoogle Play