Copper Intelligence, formerly African Discovery Group, has signed a definitive sales and purchase agreement (SPA) for the acquisition of the Butembo copper asset in the Democratic Republic of Congo (DRC).
This agreement solidifies the company’s position as a publicly traded DRC entity on the US market, marking a significant milestone in its operations.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Butembo site, a tier one exploration opportunity with near-surface, low strip-mining potential, is located near the Ruwenzori mountain region, close to Uganda’s copper mine, Kilembe, which has confirmed reserves of 4 million tonnes (mt).
Situated 50km from the Ugandan border, Butembo benefits from verified rail access.
Initial assays have demonstrated 18% copper content.
Copper Intelligence chairman Andrew Groves said: “We are delighted to hold this status as a dedicated US company operating in Africa, aggregating assets in the DRC’s highest grade copper deposits in the world.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The geology, and DRC’s prospective superlative yields, affords us the opportunity to create a unique, and dedicated copper exploration company. The Technical Team will now drive shareholder value through a methodical exploration programme, asset addition, and validation of results.”
The recent transaction included the issuance of shares to license holders, effectively transferring mining interest ownership to a US-based entity, thus finalising a reverse takeover transaction (RTO).
The signing occurred alongside a Strategic Minerals roundtable in Washington DC, coinciding with the launch of Project Vault by US President Donald Trump.
Attendees included DRC President Felix Tshisekedi, Copper Intelligence Director Aldo Cesano, and officials from an inaugural Critical Minerals Ministerial event hosted by US Secretary of State Marco Rubio.
Cesano said: “We believe Copper Intelligence will make a significant contribution to the people and communities of the DRC in which we work.”
