Bankers Cobalt to acquire interests in additional DRC properties

8 January 2018 (Last Updated January 8th, 2018 11:29)

Bankers Cobalt has signed an agreement to gain up to 70% of an interest in six additional concessions in the southern Democratic Republic of the Congo (DRC) copperbelt.

Bankers Cobalt has signed an agreement to gain up to 70% of an interest in six additional concessions in the southern Democratic Republic of the Congo (DRC) copperbelt.

The company now has a total of 20 concessions, comprising an area of more than 297km², with potential for cobalt and copper in the DRC.

The proposed transaction allows the company to enhance its exploration landholdings in the region.

Bankers DRC subsidiary president Kevin Torudag said: “The acquisition of interests in six additional concessions in the DRC Copperbelt shows our commitment to our plan for expansion and maintaining our lead in the junior mining sector for cobalt and copper in the DRC.

“We will continue to assess and acquire additional properties to add to our land package.”

“It is also important to note that the acquisitions are the culmination of a relationship that has developed over two years. We will continue to assess and acquire additional properties to add to our land package.”

According to the company, one of the concessions borders with its Kankutu project.

In addition, the concession is adjacent to the operating Kimpe cobalt and copper mine.

The company has been conducting work programmes comprising surface sampling, pits, trenching, and now geophysics at the Kankutu and Comima / Comipad projects.

In addition, the company is focused on an ongoing drilling programme at the Kabolela project.