China Moly to spend $2.5 billion to double copper, cobalt output at Congo mine By Reuters
By Tom Daly (Reuters) -China Molybdenum Co said on Friday it would spend $2.51 billion to roughly double production of copper and cobalt at its giant Tenke Fungurume mine (TFM) in the Democratic Republic of Congo. The bumper investment comes as prices for both metals have jumped in 2021 as demand rebounds from the COVID-19 pandemic. China Moly said in a filing that the $2.5 billion investment - which will go toward building three ore production lines - would boost average annual copper output at the mine by 200,000 tonnes and increase cobalt output by 17,000...
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