CoTec and Copper Intelligence finalise Joint Venture shareholder agreement to target processing of historical copper tailings opportunities in the Democratic Republic of Congo

The Joint Venture will focus on processing historical copper tailings in the Democratic Republic of Congo (the 'DRC').

Julian Treger, Chief Executive Officer of CoTec commented: "The company's strategy is to build a copper division and the Joint Venture with Copper Intelligence provides CoTec with a long-term partner who has demonstrated resource execution in a world class copper district. We are excited to progress towards securing assets which can utilise our technologies as we build out our asset portfolio. The DRC has a rich copper mining history that we expect would be reflected in its potential scalable tailings opportunities."

Andrew Groves, Chairman of Copper Intelligence, commented: "We are excited to pursue a strategic partnership with the CoTec team. We look forward to a strong and profitable relationship with a team that has achieved a track record of success for many decades. This transaction further contributes to our vertically integrated vision for Copper Intelligence."

Copper tailings in the DRC are a defining feature of the DRC's long mining history, particularly in the Central African Copperbelt, one of the world's richest copper and cobalt provinces. Large volumes of tailings have been generated by the state-owned company Gécamines during industrial mining since the 1950s.

The Joint Venture has established a framework for pursuing copper-tailings opportunities in the DRC's historical copper districts. Opportunities identified will be subject to detailed legal and technical due diligence and binding agreements on an asset-by-asset basis with approval by the independent members of the Joint Venture Board of Directors and the independent members of the CoTec Board of Directors in this matter, prior to resources being committed to development.

It is expected that CoTec technologies will be used to further enhance the economic potential of these historical tailings sites and redundant copper deposits. The Joint Venture will target funding from the US International Development Finance Corporation and other funding sources once sufficient scale is achieved. The Joint Venture Company is being incorporated in the British Virgin Islands and all formation documents will be executed on registration.

Read the article online at: https://www.globalminingreview.com/finance-business/30092026/cotec-and-copper-intelligence-finalise-joint-venture-shareholder-agreement-to-target-processing-of-historical-copper-tailings-opportunities-in-the-democratic-republic-of-congo/