Exclusive: Nigeria’s UBA preps $50M financing for DRC minerals bid

Exclusive: Nigeria’s UBA preps $50M financing for DRC minerals bid

The ScoopNigeria’s United Bank for Africa is drafting a $50 million working-capital facility for Congolese metals trader Buenassa to support its bid to acquire Chemaf, the Trafigura-backed copper-cobalt producer, according to documents reviewed by Semafor. The move comes as banks and mining corporations on the continent prepare for US-aligned mineral deals at a time when the White House is vying to outdo China in securing DR Congo’s critical sup…