Oil and Gas

Congo miner Gecamines seeks talks with foreign partners on JV terms

LUBUMBASHI, Democratic Republic of Congo, June 14 (Reuters) - D emocratic Republic of Congo state miner Gecamines has called on its foreign partners to come discuss the terms of their joint ventures, its chairman said on Thursday.

“If our partners think that operations bringing in 2.5 percent in royalties to the state are sufficient, they are mistaken,” Albert Yuma told a mining conference in the southeastern city of Lubumbashi.

“We will use all legal means to reclaim our rights,” he said, complaining that Gecamines’ partnerships have not brought in sufficient revenue to the Congolese treasury.

Yuma also said that Gecamines’ Deziwa joint venture with China Nonferrous Metal Mining (CNMC) would produce 80,000 tonnes of copper next year.

Gecamines has reached a revenue-sharing agreement with an unidentified Chinese company to develop the Kilamusembo copper and cobalt mine, he added. (Reporting by Fiston Mahamba; writing by Aaron Ross; editing by Jason Neely)