Earlier this week, workers and the firm reached an initial agreement that required a vote by union members to go into effect.

The DRC’s state miner said it will need to approve any acquisition of cobalt producer Chemaf Resources if the new owner wants to take over a key mining permit.

The monetary value of the copper is about 110 million yuan ($15 million).

Earlier this month, General Motors Co. investors rejected a similar proposal.

The group made a provision of $37.3 million in its 2023 financial accounts after the deal to buy Brazilian tin went awry.

China's imports of zinc concentrates fell sharply over the first four months of this year in response to a tightening raw materials market.

Wuchan Zhongda Group, which had sales of $80 billion in 2023, bought 2,000 tons of refined copper from a Russian smelter that should have been delivered last month.

Macquarie sees a market recovery driven by strong demand from the steel sector.