BEIJING, Dec. 26 (Xinhua) -- Chinese cobalt producer, Zhejiang Huayou Cobalt Co., Ltd (603799.SH) announced on Wednesday that its subsidiary Congo Dongfang Mining International (CDM) will invest 147 million U.S. dollars to build an electro-deposit copper project in Democratic Republic of the Congo.
The project, located in the Lukuni copper-cobalt belt, south of Democratic Republic of the Congo, is expected to yield 30,000 metric tons (tonnes) of electro-deposit copper annually.
Implementation of the project will help further develop and utilize the local resources and enhance the resource use efficiency, and improve the company's profitability, said the listed company. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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