The Kolwezi project consists of two dams containing 112,8-million tons of oxide tailings, grading 1,49% copper and 0,32% cobalt.
It is estimated that this resource has the potential to host one of the world’s largest and lowest-cost cobalt producers.
At a conceptual annual output of 42 000 t of copper and 7 000 t of cobalt, the project would have an operating life of 38 years.
Adastra secured unequivocal title for the project through its 82,5%-owned subsidiary, Kingamyambo Musonoi Tailings (KMT), which was granted a tailings exploitation permit (TEP) by the DRC’s Ministry of Mines.
Adastra’s wholly-owned subsidiary, Congo Mineral Developments (CMD), has, on behalf of KMT, made the first payment of $5-million to Le G