Tengyuan Cobalt plans JV for copper-cobalt smelter in DRC
2025-04-21 16:08:39 [Print]
Tengyuan Cobalt has announced a plan to invest in a new smelter project in the Democratic Republic of the Congo (DRC) through a joint venture. To further secure raw material supply for its domestic cobalt refining operations following production expansion, and in line with the company's 2022–2026 development strategy, its wholly owned subsidiary, Tengyuan New Materials (Hong Kong) Investment Holding Co., Ltd., will partner with KENVISTA INVESTMENTS LIMITED ("Hong Kong Kenvista") to establish a joint venture company in Hong Kong.
Through this Hong Kong joint venture, the two parties plan to set up a project operating company in the DRC to collaborate on a copper mining project. The plan includes acquiring new land in the DRC and constructing a hydrometallurgical plant with an annual production capacity of 30,000 tonnes of copper and 2,000 tonnes of cobalt. The total planned investment for the project is RMB980 million (135 million), with a construction period of 18 months.
Through this Hong Kong joint venture, the two parties plan to set up a project operating company in the DRC to collaborate on a copper mining project. The plan includes acquiring new land in the DRC and constructing a hydrometallurgical plant with an annual production capacity of 30,000 tonnes of copper and 2,000 tonnes of cobalt. The total planned investment for the project is RMB980 million (135 million), with a construction period of 18 months.
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