Congo to hike stake in copper, cobalt venture with China

THE Democratic Republic of Congo aims to boost its stake in a cobalt and copper joint venture with Chinese firms to 70% from 32%, on concerns the deal gives away too much of Congo's resources with little benefit to the country.

The plan to boost Congo's stake and have greater control in managing the Sicomines venture — currently dominated by the Chinese firms — was detailed in a document seen by Reuters that outlined Congo's demands ahead of talks to overhaul a $6 billion infrastructure-for-minerals agreement.