Deal for key metal in EV revolution brought bonanza for newcomer
Almost three-quarters of the world’s cobalt comes from Congo. Credit: The Impact Facility
A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known investor to make $40 million within weeks.
The transaction and almost immediate resale of control of the assets to Eurasian Resources Group is the latest deal in Congo to face scrutiny by anti-graft campaigners. Alleged corruption in mining transactions in the central African nation has led to financial sanctions and multiple ongoing investigations by law-enforcement agencies around the world.
Deal for Key Metal in EV Revolution Brought Bonanza for Newcomer
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