Tuesday, September 20, 2016

Lundin Mining Granted Second Extension To Bid For Giant DR Congo Cobalt/Copper Mine

So waddya think?
Is Tesla going to stick with current battery technology and use cobalt or will one of the competing approaches prove so superior that the value of Tenke Fungurume falls 60%.

Follow one road and all Europe may be free and the life of the world may move forward into broad, sunlit uplands. But if we fail, then the whole world, including the United States, including all that we have known and cared for, will sink into the abyss of a new Dark Age made more sinister, and perhaps more protracted, by the lights of perverted science.

No pressure.
And no idea why Churchill is showing up in the intro to a mining story.

It may be as simple as always thinking it would be nice to walk into the Monday morning meeting and, just once, have someone acknowledge last week's performance with "This was their finest hour".
Just once.

From Mining Review Africa:

Lundin Mining granted second extension of Tenke Fungurume acquisition
Lundin Mining has received a second extension on the offer period to acquire Freeport-McMoran's indirect interest in the Tenke Fungurume mine in the DRC.

TSX-listed base metals mining company Lundin Mining, Freeport-McMoRan and China Molybdenum have agreed to further extend the notice period during which the company has the right to acquire Freeport's indirect interest in TF Holdings to 29 September 2016.

On 9 May 2016, Lundin Mining received a notice from Freeport offering Lundin Mining the right to acquire Freeport's indirect interest in TF Holdings at the same purchase price and on the same terms and conditions offered by China Molybdenum....MORE
...The Tenke Fungurume mine has become the world’s premier cobalt producer and one of the largest copper producers in the DRC, having produced its millionth metric ton of copper in 2015, only six years after operational start-up....
Sept. 8
DR Congo’s State Mining Company Submitted An Offer to Buy Freeport McMoRan's Stake In Tenke Fungurume Copper, Cobalt Mine (FCX; LUN.to)
May 20
Why the CIA Reads The Financial Times (and you should too) Tesla and Cobalt
May 9
"Freeport Sinks On Sale of Africa Copper Mine To Chinese" (FCX; LUN.TO)