China Molybdenum Lost Its Cobalt Mine In Congo Amid Electric Vehicle Race The Democratic Republic of Congo has effectively repo’d China Molybdenum from its ownership of the cobalt-producing Tenke Fungurume mine. A court ruling removed the Chinese company as the owner of one of the largest cobalt mines in the world. The country’s own mining enterprise, known as Gécamines, sought to remove the China-based miner from the management of the mine following claims that the firm underdeclared copper and cobalt reserves at the site. In effect, the firm failed to pay the proper royalty payments to the Congolese government. Giving...