Tycoon may have shifted assets to Zimbabwe after US sanctions

A large portion of the Kari Pump maiden estimate for measured and indicated resource was converted to reserves.

Global copper mine production will see steady growth over the next few years, supported by markets with low operating costs and improving copper prices.

GDP growth in the DRC is expected to fall to 4.3% this year from 5.8% in 2018, due to a slowdown in mining activity triggered mainly by lower cobalt prices.

No value was put on the agreement but the Chinese company will also have the right to purchase 3,000 tonnes of rare earth products from the project within three years of production.

The African miner said it "strongly disagreed" with Barrick's valuation of the company and that the proposal appears to have ignored the value of its exploration and development assets.

The state abolished Zimbabwe’s currency in 2009, after an episode of hyperinflation rendered it worthless.

While some international mining companies have reduced exposure to coal on environmental grounds, others are sparking a race for quality assets.

The company is also considering whether to appeal a decision earlier on Thursday to reject Vedanta’s request to be joined to the liquidation proceedings.

It's mulling options to develop the giant iron ore deposit in Guinea, which almost sold last year to its partner in the project Chinalco.