The DRC is Africa’s top copper producer and the world’s largest source of cobalt .We own more than 50 Square Kilometers in the Katanga DRC copper belt which includes some of the highest grade copper deposits in the world. Our concessions sit on a straight line between some of the richest in High-grade copper ore fields in the world; Tenke Fungurume(one of Africa’s largest copper mines) and Boss Mining.
The Katanga and Copperbelt provinces are awash in minerals. Katanga produces 580,000 metric tons of copper per year and about 60,000 metric tons of cobalt per year .The Katanga Province in southern DRC is host to one of the richest Copper-Cobalt belts in the world. The mineralized Katanga Belt extends from across Zambia through the southern DRC, and eastern Angola as a 250km x 70km wide (minimum) structural high-grade mineralized belt. Our concessions are in the heart of this Copper-Cobalt belts.
Historically, Belgian geologists mapped the Kabolela deposit to occur along a geological boundary. The historical Belgian map also includes the Mukondo copper mine (operated by Camec) and the Tenke Fungurume Mine (operated by Tenke Mining Corp.) to the NW, within the same package of rocks. These are two of the richest deposits in the Katana Province. The deposits in our concessions are similar to these two deposits based on geology, stratigraphy, mineralogy and mineralization.
Tenke Fungurume ‘Production of copper cathode commenced in the first quarter of 2009. Phase 1 name-plate capacity was 115,000 ton/year of copper cathode and 8,000 ton/year of cobalt in hydroxide form. However, debottlenecking, plant upgrades and an increased mining fleet has allowed production to increase to the production of 130,000 ton/year copper cathode and some 10,000 ton/year cobalt hydroxide.
Based on the occurrence of artisanal workings, neighbouring mines and deposits, and the location of the concession within the known extents of the Katanga Belt, our concessions have the potential to host a mineralized deposit similar in nature to Tenke Fungurume, the Boss Mining Kabolela Deposit and other Katanga belt copper deposits.