Chinese hi-tech enterprise Huayou Cobalt has made a significant investment in the Democratic Republic of the Congo (DRC).
Huayou’s focus is the nonferrous smelting of cobalt (Co), nickel (Ni) and copper (Cu). The company has made capital available for the development and ongoing optimisation studies for the Kalongwe copper and cobalt project.
Kalongwe is the flagship project of Australian listed company Nzuri Copper and hosts a near oxide resource of 302 000t of contained copper (CU) at an average grade of 2.72% copper that includes
42 000t of contained cobalt.
Kalongwe’s Scoping Study indicates that it will be economically viable to develop a stand-alone, low Capex, open pit mining operation. Nzuri is testing high priority exploration targets on its permit areas to build a substantial resource base.