HomeCentral AfricaFEL acquires rights to Kasombo copper-cobalt project in DRC

FEL acquires rights to Kasombo copper-cobalt project in DRC

The rights to the Cape Lambert Resources Kasombo project were established in a 50/50 joint venture agreement it recently struck with Congolese entity Paragon Mining.

The Cape Lambert Resources Kasombo copper-cobalt project is located approximately 25 km from the DRC’s second largest city, Lubumbashi, in the Katanga Copper Belt

It is located amongst some of the world’s largest and highest grade copper and cobalt mines. Lubumbashi has established infrastructure and serves as the main centre for the cobalt and copper mining industry in Haut-Katanga Province.

The Cape Lambert Resources Kasombo project comprises three mineralised areas of approximately 600 ha, Kasombo 5, 6 and 7, located within two granted mining licenses PE 481 and PE 4886.

The licenses are held by La Generale Des Carrieres Et Des Mines S.A. (Gecamines).

In March Paragon executed a contract with Gecamines for the undertaking of exploration and research work at the Kasombo project. The Kasombo project is part of the greater Kasombo Complex, a series of copper-cobalt rich deposits that have been extensively explored by Gecamines and developed and mined by various international companies in joint venture with Gecamines.

During a recent site visit by Cape Lambert Resources’ technical consultants, handheld XRF sampling of artisanal open workings and exposed cobalt mineralisation at the Kasombo 6 area showed results were consistent with and confirmed the previously reported mined copper and cobalt grades by Gecamines and Forrest International Group.

“The acquisition of the Kasombo Project will provide Fe Limited an ideal opportunity to build a portfolio of cobalt assets in the established cobalt producing region of DRC and nearby to the Kipushi processing plant,” comments Cape Lambert Resources chairman, Tony Sage.

“The car industry’s push toward electric vehicles underpins the burgeoning market for cobalt, a key metal for car batteries,” he concludes.