May 2, 2018 / 11:37 AM / 7 months ago

Groupe Forrest and Congo state miner resolve dispute over cobalt factory

DAKAR (Reuters) - Groupement du Terril de Lubumbashi Ltd. (GTL), a unit of Groupe Forrest, and Congo state miner Gecamines have resolved a dispute that has slowed work at their cobalt processing plant for months, the companies said in a joint statement on Wednesday.

Under the terms of the deal, GTL will repair the factory’s furnace and transfer ownership of the factory to Gecamines, while Gecamines will pay an indemnity to GTL.

GTL is 70 percent owned by Groupe Forrest and 30 percent owned by Gecamines.

Reporting by Aaron Ross; editing by Tim Cocks; editing by Jason Neely

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