Copper Intelligence, CoTec partner for DRC copper tailing processing
They aim to develop copper tailing opportunities in DRC’s copper districts, which have been building up since the 1950’s.
Copper Intelligence and CoTec Holdings Corp. have joined forces to process copper tailings in the Democratic Republic of Congo (DRC). As demand for copper grows, the partnership aims to capitalize on historical copper districts in the DRC that have been generating mining waste since the 1950s. Funding for the venture will come from the US International Development Finance Corporation and other sources once projects reach a certain scale.
Julian Treger, CEO of CoTec, expressed his excitement about partnering with Copper Intelligence, a company with a proven track record in a world-class copper district. The DRC's rich copper mining history is expected to reflect in the potential for scalable tailings opportunities. Copper prices are currently near record levels, with the metal on track for a third consecutive monthly gain as electricity, infrastructure, and data-center requirements drive up demand.
CoTec's innovative technologies will be utilized to unlock the economic potential of historical tailings sites and redundant copper deposits. Copper Intelligence's regional expertise will contribute to exploring and developing high-potential copper assets in the DRC. The partnership includes two third-party investment vehicles associated with CoTec's CEO and Chairman, and the joint venture will be incorporated in the British Virgin Islands.
Detailed legal and technical due diligence will be conducted before proceeding with asset development, and approvals will be required from independent members of the joint venture and CoTec boards.
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