The announcement comes at a strategic time for teh Miner, which is currently facing a hostile bid from larger rival First Quantum Minerals, which claims to be in a better position to "optimise" the project.
The IDC and Investec mandate agreements were executed by Adastra's wholly-owned subsidiary, Congo Mineral Developments (CMD), the majority shareholder of Kingamyambo Musonoi Tailings (KMT), which, in turn, owns 100% of Kolwezi.
CMD is responsible for carrying out the feasibility study and environmental- and social-impact assessment, and for organising the financing of the project.
The South African export credit tranche will be for $80-million to $120-million, with a ten-year maturity.
It will fund a further 30% of the project's total capital requirements, on top of the 20% already announced, Adastra said.
"Adastra's Kolwezi project remains firmly on course," CE Tim Read emphasised in a statement yesterday.
Adastra last month encouraged shareholders not to support First Quantam's unsolicited bid, labelling it an "opportunistic offer (that) significantly undervalues the company".
The Kolwezi project consists of twqo dams, containing 112,8-million tons of oxide tailings, at grades if 1,49% copper and 0,32% cobalt.
Adastra believes that the resource has the potential to host one of the world's largest and lowest-cost cobalt producers, although a definitive feasibility study is only expected during the first quarter of this year.
The miner has said that, if the study outcome is favourable, construction is expected to begin before the year-end, with first production in mid-2008 and a mine life of over 50 years.
"Such a project would generate significant taxation, royalty and dividend revenues to teh (DRC) government, as well as providing local employment and contributing to the regeneration of teh DRC's copper-belt infrastructure," Adastra said.