Cape Lambert seals DRC JV sets eyes on Zambia
Australian company Cape Lambert has ventured into a joint venture with Democratic Republic of Congo ' s ( DRC ) Paragon Mining to exploit the country ' s cobalt and copper . �e JV is to develop the Kipushi cobalt-copper tailings project , the Kasombo copper-cobalt project and operate the Kipushi processing plant . In addition , operate the fully constructed and commissioned Kipushi processing plant to process the Kipushi tailings and treat additional hard rock cobalt and copper material . Commissioned last year , the processing plant which was has a one-million-tonne-a-year otation plant designed to produce 4 000 t / y of cobalt , 10 000 t / y of copper and 2 000 t / y of zinc in concentrate from the tailings material .
“ Cape Lambert has built a successful record of identifying commodities and projects at the right time . By applying our technical and marketing support , we can add immediate value to these projects and return signi cant value to the company , its shareholders and all stakeholders ,” said Cape Lambert , Executive Chairperson Tony Sage . Lambert is optimistic that cobalt , as a commodity , has an extremely positive future . “ We believe we are well placed to bene t from signi cant demand and price increases in this commodity sector .” �e two companies will each hold a 50 % interest in the JV , and will aim to start mining activities at Kipushi within the next six months , and to immediately start exploration activities at Kasombo .
According to the company a feasibility study for Kasombo was scheduled within the next 18 months , and mining activities within the next 24 months . �e partners will also work to identify and secure other copper , tin , zinc and cobalt projects in the DRC and Zambia . At Kipushi , Cape Lambert will be responsible for providing all the necessary technical resources to enable exploration and mining , and will fund 100 % of the working capital and capital costs to start mining , while also sole funding any requirements to upgrade the processing plant . While at Kasombo , Cape Lambert will be responsible for sole funding the costs of exploration and feasibility studies to start mining and , if necessary , upgrade the Kipushi processing plant to process ore from Kasombo .
FMDZ | Jan - Feb 2017 | Page13