One of China’s biggest African investments has hit the skids due to IMF dissent over the project, according to Asia Times Online.
The Congo copper deal, which was set to involve $9 billion in Chinese investment in infrastructure and mining projects, would have paid out returns to a China-Congo company called Sicomines.
This deal was meant to involve access to 10 million metric tons of copper, according to Bloomberg.
Beyond the IMF and the West’s displeasure, local corruption is also holding up the project.
China’s demand for copper may be dimming, but this certainly is not a positive for a regime seeking greater access to minerals.