Tenke Fungurume Mining
Date of entry20/06/2007
BeneficiaryLocation- Congo (Dem. Rep.)
- Tenke & Fungurume.
DescriptionThe project entails the development, construction and operation of a copper/cobalt mine and associated processing plants with an expected production capacity of 115,000 t/a of copper and 10,000 t/a of cobalt products in DRC.
ObjectivesThe project will be supporting the development of private sector activities in an export sector presenting a high foreign exchange earning potential. Substantial direct and indirect employment is expected. The project is expected to provide important social and economic benefits in an impoverished area.
CommentsSector(s)Proposed EIB financeTo the equivalent in USD of up to EUR 100 million
Total costUSD 1 billion
Environmental aspectsA comprehensive ESIA has been established which addresses the relevant issues of the project.
ProcurementThe selection of the technology suppliers and construction contractors has and will be based (apart from the price) on expertise and experience following international negotiations.
StatusApproved
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17/07/2007.