TENKE FUNGURUME INTEREST UPDATE by xro60491

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									Tenke Mining Corp.: Tenke Fungurume Update

August 30, 2002
VANCOUVER, BRITISH COLUMBIA, Tenke Mining Corp. reports that
Phelps Dodge will replace BHP Billiton as option holder under the
existing agreement with Tenke to acquire a controlling interest
and operatorship in the Tenke Fungurume copper/cobalt project in
the DRC. BHP Billiton has notified Tenke that they are
withdrawing from the above referenced agreement. BHP Billiton's
decision was made following a review of criteria and requirements
for future capital investment for its various base metal projects
around the world.

Phelps Dodge, the world's second largest copper producer, has
committed to continue working with Tenke on advancing the project
in line with the development strategy set out more than a year ago
between the parties. Phelps Dodge has played a key role in the
project and all negotiations in the DRC since early in 2001 as an
integral part of the Tenke project consortium.

Tenke would like to express its appreciation to BHP Billiton for
its past support on the Tenke Fungurume project.

ON BEHALF OF THE BOARD

Adolf H. Lundin, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Tenke Mining Corp.
Sophia Shane
Corporate Development
(604) 689-7842
Website: www.tenke.com

								
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