Delphos Invests $350 Million in Copper and Cobalt Refinery in DRC’s Katanga Province
In a significant development for the Democratic Republic of Congo (DRC), the Industry Promotion Fund (FPI) has confirmed that a mining company is allocating $350 million for the establishment of a copper and cobalt refinery in the former province of Katanga.
This initiative is part of the broader plan to industrialize the DRC, and the FPI is actively involved in facilitating this endeavor.
According to the FPI’s press release, both technical and legal commissions have been formed to expedite the signing of a protocol between the FPI and Buenassa, a company representing Delphos.
This protocol will enable the financing of pre-feasibility studies, a crucial step in the project’s development. The task force responsible for the project comprises experts from various entities, including the Presidency of the Republic, the Prime Minister’s Office, the Ministries of Industry, Mines, Buenassa, and external consultants. The signing of the protocol is anticipated to be completed before the end of October.
It’s noteworthy that this copper and cobalt refinery project in the DRC is slated to reach maturity between 2024 and 2025, marking a significant stride in the country’s industrialization efforts.
The commitment to this venture by Delphos, a company specializing in copper and cobalt refining, was secured during the Global Africa Business Initiative held on the sidelines of the 78th general assembly of the organization in New York, with President Félix Tshisekedi actively championing the project’s development.
