The DRC is stepping into the global battery minerals market with plans to develop a locally owned US$350 million copper-cobalt refinery.

About 70% of the world’s cobalt is sourced from foreign-owned mines in the DRC and the country is one of the largest producers of copper. Both minerals, used in the manufacture of batteries for electric vehicles (EV), are largely exported to China for processing, according to Mining.com.

The plant, to be developed by locally held Buenassa Sarl, aims to source cobalt from the country’s artisanal miners through the government’s Entreprise Generale du Cobalt, which owns the rights to all hand-mined cobalt. The project is expected to improve the conditions of the country’s hundreds of thousands of artisanal miners.

It has the financial support of US-based Delphos International in keeping with a US decision to support the development of an EV value chain in the DRC and neighbouring Zambia.

Buenassa initially planned to produce 30 000 tons of copper cathode and 5 000t of cobalt hydroxide, largely sourced from the artisan miners, but now it is expected that the project will expand with Delphos’ and government backing.

‘The idea is to reverse the way the minerals and the wealth generated is controlled,’ said Buenassa boss Eddy Kioni.

3 October 2023
Image: Flickr