Congo (DRC) officially starts RTR project on receiving prepayment
2017-03-07 13:37:57 [Print]
On January 31, 2017, the Democratic Republic of the Congo received the first prepayment of USD45 million from Eurasian Natural Resources (ENRC) for the project of hydrometallurgical copper smelting. Thus, the project officially started on February 6 with construction commenced.
According to the contract, the construction of the project will last for 24 months with investment of about USD650 million. The project is a continued project with average grade of 1.49% for copper and 0.32% for cobalt and reserves of about 1.6793 million tons for copper and about 365,700t for cobalt. Cobalt reserves of the project ranked among the top positions in the world. After the completion of Phase I, copper cathode capacity will reach 70,000tpy, cobalt hydroxide for 35,000tpy (cobalt metal for 14,000tpy) and the annual cobalt metal output from in this project accounts for one sixth of the total annual volume in the world. Based on mutual benefit and win-win principle, ENRC welcomes China Non-ferrous Metals Processing Technology to become the shareholder of the project in the future.
The commencement of the RTR project marks another solid step in deep cooperation between the two companies, which provides far-reaching significance to more comprehensive strategic cooperation of the two parties in the future.
According to the contract, the construction of the project will last for 24 months with investment of about USD650 million. The project is a continued project with average grade of 1.49% for copper and 0.32% for cobalt and reserves of about 1.6793 million tons for copper and about 365,700t for cobalt. Cobalt reserves of the project ranked among the top positions in the world. After the completion of Phase I, copper cathode capacity will reach 70,000tpy, cobalt hydroxide for 35,000tpy (cobalt metal for 14,000tpy) and the annual cobalt metal output from in this project accounts for one sixth of the total annual volume in the world. Based on mutual benefit and win-win principle, ENRC welcomes China Non-ferrous Metals Processing Technology to become the shareholder of the project in the future.
The commencement of the RTR project marks another solid step in deep cooperation between the two companies, which provides far-reaching significance to more comprehensive strategic cooperation of the two parties in the future.
Copper Rod TC Ф8mm EXW China
Unit:RMB/mt
China copper concentrate producers' sales volume statistics by province by month
Unit: mt
