re posted from MINING.COM
Congo plans new copper-cobalt smelter to serve informal miners
Democratic Republic of Congo said it’s backing plans for a new domestically owned copper-cobalt plant to help formalize artisanal mining in the country, at a time when minerals crucial to electric vehicles are moving further into the global spotlight.
The project, which will be developed by privately held Congolese firm Buenassa Sarl, is expected to cost about $350 million, and Washington-based financial consulting firm Delphos International Ltd. has agreed to help raise financing, representatives from the two companies and the government said in an interview.
The involvement of Delphos also highlights a growing focus among western governments on ensuring security of supply for strategic minerals such as copper and cobalt while reducing dependency on China. Delphos works closely with the US government, specializing in development and export-credit financing, and the Buenassa project “is very much aligned with the geopolitical goals of the United States,” said Delphos International Chairwoman Roya Rahmani.
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Congo plans new copper-cobalt smelter to serve informal miners