Congo launches Chinese-owned Deziwa copper and cobalt mine

CNMC Goldmine Holdings

15/01/2020 09:10

By Stanis Bujakera
    DEZIWA MINE, Democratic Republic of Congo, Jan 15 (Reuters)
- T he Democratic Republic of Congo's state mining company
Gécamines on Wednesday opened the Deziwa copper and cobalt mine
and processing plant, part of a joint venture majority-owned by
China Nonferrous Metal Mining Company (CNMC).
    The Deziwa deposit, around 35 kilometres east of Kolwezi, is
estimated to hold 4.6 million tonnes of copper and 420,000
tonnes of cobalt. 
    Somidez, the joint venture controlling it, is held 51% by
CNMC and 49% by Gécamines.
    An $880 million project which started construction in May
2018, the Deziwa mine aims to produce 80,000 tonnes of copper
and 8,000 tonnes of cobalt per year, according to Somidez.
    Sliding cobalt prices have hurt Congo's output of the
battery material. Glencore decided in August 2019 to close the
Mutanda copper and cobalt mine - the world's largest.
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    Mutanda shut on November 25, a month before the mine was set
to go into maintenance, due to a lack of sulphuric acid.
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 (Writing by Hereward Holland and Helen Reid; editing by Jason
Neely)
 ((hereward.holland@thomsonreuters.com; +254 20 499 1232;
Reuters Messaging:
hereward.holland.thomsonreuters.com@reuters.net))