DRC, Buenassa Partner on Copper-Cobalt Refinery in Lualaba

The Democratic Republic of Congo (DRC) has signed a strategic partnership with local metals trading company Buenassa to develop a copper and cobalt refinery in Lualaba province.

The agreement was signed in Kinsasha by Jean-Lucien Bussa, Minister of External Trade, DRC and Eddy Kioni, CEO, Buenassa in June.

The refinery aims to produce 120,000 tons of copper cathodes and 30,000 tons of cobalt sulphate annual. With cobalt metal production also under consideration, the project is set to support global electric vehicle and defense supply chains.

Buenassa has secured $3 million in funding for the project from the DRC’s Industry Promotion Fund. Pre-feasibility and feasibility studies will be carried out on-site in Lualaba province, alongside efforts to secure supply agreements and structure financing through public-private and international partnerships.