Copper Cathode Project
Democratic Republic of Congo/Zambia/Tanzania
Congo (DRC) is a country with abundant copper and cobalt resources. It has the largest copper and cobalt resources region in the world. According to statistics of USGS, by the end of 2016,Congo(DRC) had 20 million tons of copper, accounting for 2.8 percent of the world's total reserves. The copper reserves of the Katanga copper mineral belt, centered on the cities such as Kolwezi, Likasi and Lubumbashi, are about 55million tons and cobalt reserves are 3.6 million tons. It has 2-9% oxidized copper-cobalt ores of large number of surface outcroppings and shallow-buried grade. According to the statistics of the Government of Congo(DRC), in 2016,Congo(DRC)’s copper exploitation quantity was 986,600 tons of copper, accounting for about 5 percent of global total output, ranking the seventh in the world.
Our copper mine is located in Katanga province in southeast of Congo(DRC), about 2 kilometers from the city of Likas and 125 kilometers from the west of Lubumbashi, the capital of Katanga province. It is also located in the world’s famous Katanga copper mine (sandstone and shale ore deposit).Its metal reserve is 3.89 million tons and average copper grade is 4.7%. Royal Import Export Sarl Mining responded to the country's strategic call to "go out" and industrial planning to become one of domestic pioneering enterprises engaged in mineral resources investment and development, and has preliminarily completed the strategic layout of "transformation to non-ferrous metal and resources industry through keeping a foothold focusing on overseas market”. Royal Import Export Sarl is located in Katanga province, Congo(DRC), where transportation is convenient and hydro-power resources are abundant. Its main business is to engage in exploitation and development of copper and other minerals in Shituru mineral deposit land 4725, Congo(DRC). Its products are widely used for wires and cables, electronic, copper processing, mechanical making, copper alloy forging and other fields.
Congo(DRC) cobalt metal reserves are 3.4 million tons, accounting for 48.6% of the world's total reserves. According to the Congolese government, cobalt production reached 77,392 tons in 2016, accounting for more than 70 percent of the world's total output. Due to the strong growth in demand for new energy vehicles, it is expected that global cobalt demand will continue to maintain a rapid growth and prices will continue to rise in the future. In September 2017, the foundation-stone laying ceremony of SMCO cobalt project and the establishment ceremony of Congo(DRC) cobalt ore trading centre were held in Likasi, Haut-Katanga Province, Congo(DRC). The Royal Import Export Sarl cobalt Project is only about 2 km from Likasi and about 3 km from the provincial road (Likasi to Lubumbashi, the capital of Katanga province and the economic center of Congo(DRC)). Final product of SMCO cobalt project is cobalt hydroxide, and by-product is cathode copper.
The project is divided into two phases. The first phase is one year. In this year, cobalt hydroxide can produce 3000 tons of cobalt metal, the second phase starts in the second year of production with the construction period of 1 year, the annual production of cobalt metal from cobalt hydroxide increased to 7000 tons. It is expected that in the fourth quarter of 2018, the project will provide scarce cobalt products for the market. The launch of Royal Import Export Sarl cobalt project in the market and establishment of the cobalt ore trading center will accelerate the company’s pace of investment and development of overseas nonferrous metal mineral resources and increase the control of resources.
It is an important initiative to build the whole industrial chain of "industry + trade +finance".