Buenassa Secures $3.5M Grant for Sustainable Metal Refinery in DRC
Buenassa, a pioneering company in the metal processing and trading sector, has reached a significant milestone with the award of a $3.5 million grant from the Democratic Republic of the Congo (DRC) Government through the Fonds de Promotion de l’Industrie (FPI).
This grant marks the initial tranche of funding for Buenassa’s ambitious Project Preparation Facility, paving the way for an innovative copper and cobalt refinery project in the province of Lualaba.
The venture represents not only a leap forward in industrial development but also a commitment to sustainable practices and climate-smart mining.
The funding from the DRC Government underscores a shared vision for responsible industrialization and green economic development.
With the establishment of the project preparation facility, Buenassa aims to set a precedent for ethical and equitable mineral processing in the region.
Eddy Kioni, Founder and CEO of Buenassa, expressed enthusiasm for the project’s potential impact, highlighting its role in fostering an integrated value chain for battery and electric vehicle manufacturing.
Marie-Paule Donsimoni-Bupp, Chair of Buenassa’s Advisory Board, emphasized the company’s dedication to ethical practices and community development.
By prioritizing responsible production and equitable access to critical minerals, Buenassa aims to support the DRC Government’s efforts in enhancing control over metal movements and international market prices.
Julien Paluku, the DRC’s Minister of Industry, hailed Buenassa’s refinery project as a strategic move to accelerate mineral resource-based industrialization.
The collaboration between the public and private sectors signifies a concerted effort to advance the battery value chain, promoting economic growth and stability.
The support of international partners, including the United Nations Economic Commission for Africa (UNECA), Afreximbank, and others, further strengthens Buenassa’s position as a leader in sustainable mineral processing.
With key figures projecting significant yearly outputs of copper cathode and cobalt sulfate, Buenassa is poised to become a cornerstone of the DRC’s mineral export industry.
In line with President Felix-Antoine Tshisekedi’s agenda for national prosperity and security, Buenassa’s initiative aligns with the government’s focus on local beneficiation of critical minerals.
Through strategic partnerships and technological innovation, Buenassa seeks to reshape global supply chains and ensure balanced access to essential metals for both commercial and military applications.
Looking ahead, Buenassa is committed to leveraging its partnerships and expertise to drive forward its mission. With upcoming studies slated to commence in March 2024, the company remains dedicated to realizing its vision of reshaping global supply chains and bolstering the DRC’s position as a key player in the international market.
As Buenassa continues to pioneer sustainable practices in metal processing, its impact extends beyond economic growth to encompass environmental stewardship and community empowerment.
With the support of the DRC Government and international allies, Buenassa is poised to redefine the future of mineral refining in the region and beyond.
