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BHR announces completion of US$1.14 Billion minority interest acquisition of Tenke Furugume Mining

Author:admin Createtime:2017-04-20 Browsing: 5237

BHR Partners is delighted to announce the completion of the US$1.136 billion cash acquisition by BHR Newwood from Lundin Mining Corporation of an indirect 24% interest in Tenke Furugume Mining S.A. (“TFM”), located in the Democratic Republic of Congo (“DRC”). The BHR acquisition follows last year’s acquisition by China Molybdenum Co. Ltd. (“CMOC”) of an indirect 54% interest in TFM from Freeport-McMoran Inc.. BHR Newwood now proudly joins CMOC and la Generale des Carrieres et des Mines, an affiliate of the DRC government, as shareholders of this unparalleled world-class asset. TFM is home to one of the world’s largest copper and cobalt deposits and BHR Newwood looks forward, with pride and excitement, to working alongside its partners in TFM and to continuing to service and manage this world-class asset, for the benefit of all shareholders and the people of the DRC.

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