Communist China State Enterprise’s Share in Copper and Cobalt Mine Taken by DRC Court for Commercial Fraud

Cobalt is an important mineral for global energy transformation. The Democratic Republic of Congo (DRC) is rich in cobalt resources, which is coveted by the Chinese Communist Party (CCP). The CCP spent money on acquisitions and mergers for many years, pushing out European and American miners from the region. When the DRC awoke to the fact that the CCP controlled company China Molybdenum Company Limited had lied about its reserves of the world’s largest copper and cobalt mining area and wanted to avoid paying millions of dollars in royalties, hence the DRC court ordered a takeover, and China Molybdenum Company Limited was not satisfied with the DRC’s state-owned enterprises. This will cause a direct impact on Communist China’s competitiveness in the global cobalt mine.