23 December, 2020
Davis Polk advised Freeport-McMoRan Inc. in connection with its $550 million sale of its interests in the Kisanfu project to a wholly owned subsidiary of China Molybdenum Co., Ltd. The Kisanfu project, located in the Democratic Republic of Congo, is a large, undeveloped cobalt and copper resource discovered by Freeport’s exploration team.
Freeport-McMoRan is a leading international mining company with headquarters in Phoenix, Arizona. Freeport-McMoRan operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. Focused on non-ferrous metal mining, CMOC specializes in mining and trading of base and rare metals in the world. CMOC is the largest tungsten producer, the second-largest cobalt and niobium producer, one of the top five molybdenum producers and a leading copper producer in the world.
