China Molybdenum said "significant progress" had been made on a dispute regarding the Tenke Fungurume copper and cobalt mine (TFM) in the Democratic Republic of Congo (DRC). The dispute between China Moly and Democratic Republic of Congo's state mining company Gecamines, which hold 80% and 20% stake in the TFM mine respectively, started in August last year when the Congo government formed a commission to reassess reserves and resources at the mine in order to "fairly lay claims to their rights".
