The Democratic Republic of Congo’s minister of mines has denounced Zijin Mining Group (601899.SH, 2899.HK) and the Chinese state-backed CAD Fund’s US$284 million bid to buy copper producer Platmin Congo, Bloomberg reported. In a statement, the minister’s chief of staff Alexis Mikandji Penge said: "The Minister of Mines of the Democratic Republic of Congo denounces and disapproves of the transaction between the Platmin and Zijin companies." The statement also said that the companies’ transaction was "in violation of application regulations" and that "it has no effect in the Democratic Republic of Congo." Zijin Mining – China’s largest gold producer – announced on May 7 plans to acquire a 60% stake in Platmin Congo in a joint venture with CAD Fund. A deal was expected to be signed by June 10. Platmin has 68% stakes in the Deziwa and Ecaille C copper-cobalt projects in Congo.