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Copper/Cobalt JVs

  • RRR 80% of Galaxy Joint Venture (Luanshimba)
  • RRR 58% of Kimono JV, with historic high Co intercepts and production
  • RRR court judgment gained for $2.5m in respect of former VUP JV, with current arbitration in respect of $15m

Democratic Republic of Congo

With an estimated USD 24 trillion in untapped deposits of cobalt, copper, diamonds, gold and other minerals, the DRC is a key mining destination with a large number of mining companies actively operating across the country.

A considerable proportion of the worlds supply of cobalt is mined every year in the country, and companies around the world are seeking to secure cobalt supplies, in particular those with sustainability procedures in place to ensure that artisanal child labour has not been utilized in their production.

 

 

Highlights

  • RRR 80% of Galaxy Joint Venture (Luanshimba)
  • Copper and Cobalt intercepts in first drilling at Luanshimba, including:
    • 43m at 0.13% Co (with 11m at 0.2%), 3m at 0.37%, and 5m at 0.78%
    • 6m at 0.61% Cu, 3m at 0.7%, and 3m at 1.14%
  • RRR 58% of Kimono JV, with historic high Co intercepts and production
  • RRR court judgment gained for $2.5m in respect of former VUP JV, with current arbitration in respect of $15m