Another Chinese firm pockets Tenke stake as Lundin sells share for $1.14bn

Canadian base metals miner Lundin Mining has agreed to sell its effective 24% stake in the Democratic Republic of Congo-based Tenke Fungurume mine for $1.14-billion to a Chinese private equity firm, the company said in a statement late Monday. Lundin will sell its 30% indirect interest in Bermuda-based holding company TF Holdings, which holds 80% of Tenke, with the remaining 20% Tenke ownership held by DRC State miner La Générale des Carrières et des Mines (Gécamines).