Kalukundi Mine

Kalukundi Mine is a copper and cobalt mine being developed in Katanga Province, Democratic Republic of the Congo (DRC) by Africo Resources, a Canadian company. In September 2008 the company estimated the value of the resource as $1.47 billion.[1]

Kalukundi Mine
Location
Kalukundi Mine
Location in the Congo
ProvinceKatanga
CountryDR Congo
Coordinates10°37′23″S 25°53′59″E
Production
ProductsCopper
Owner
CompanyEurasian Resources Group
Websitewww.erg.kz

Ownership

The property is owned by Swanmines, which is jointly owned by Africo Resources (75%) and the state-owned Kalumines (25%). In 2007 there was an ownership dispute when a DRC company named Akam Mining claimed it had bought control of Swanmines, and this claim was upheld in a superior court in Lubumbashi. In September 2007 from DRC justice minister Georges Minsay Booka directed Gécamines to take note that Akam Mining had no stake in the property.[2] Following a government review of all Katanga mining contracts, in February 2009 Africo Resources made an agreement with the DRC government and Gécamines for amended terms for the project.[3]

Location

The Kalukundi project is in the Kolwezi District of Katanga Province, 32 kilometres (20 mi) west of the Tenke Fungurume Mine and 65 kilometres (40 mi) by road from Kolwezi. A major power line runs through the south of the Kalukundi area. The Kolwezi-Likasi railway runs 2 kilometres (1.2 mi) south of the property.[4]

An initial feasibility study was conducted between May 2004 and May 2006. Drilling indicated a reserve of 7.8 million tonnes of ore grading 2.44% copper and 0.69% cobalt in oxides at a depth of 40 metres (130 ft) to 130 metres (430 ft). This was considered a conservative estimate of resources.[4]

Development plans

The plan used as the basis for the 2006 feasibility study was to produce 800,000 tonnes of ore per year, giving an estimated annual yield of 16,400 tonnes of copper and 3,800 tonnes of cobalt. Ore would be extracted by a contractor using conventional open pit selective exploitation, with multiple pits and multiple cut-back to ensure a steady supply of ore. A revised study was commissioned in June 2011 to investigate a 50% higher rate of ore production, and to take into account the much higher metal prices.[4]

Eurasian Resources Group (ERG) - camrose resources subsidiaria Since 2016 ERG won the licitory about Kalukundi.

References
  1. "Investor Fact Sheet" (PDF). Africo Resources. September 2008. Archived from the original (PDF) on 2011-09-09. Retrieved 2011-11-13.
  2. Barry Sergeant (14 Sep 2007). "Kalukundi copper/cobalt swindle reversed?". MineWeb. Retrieved 2011-11-13.
  3. "Kalukundi contract review concluded". Mining Journal. 6 Feb 2009. Archived from the original on 29 January 2013. Retrieved 2011-11-13.
  4. Lawrence Williams (14 Jun 2011). "New 50% bigger Kalukundi copper/cobalt project study awarded". MineWeb. Retrieved 2011-11-13.
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