Australian miner Winmar Resources has signed a deal with African Holding Investment Company and Societe Luapula to acquire a 50% stake in the Luapula cobalt processing facility in the Dem-ocratic Republic of Congo.
"The Luapula Processing Facility was constructed in 2014 at a reported cost of US$80m and is a conventional copper-cobalt leaching plant … with a design throughput of 250,000tpa of run-of-mine feed," the company said in a statement.
Jason Brewer, the chairman of Winmar Resources, said that the project "will allow Winmar to rapidly deliver on a DRC focused cobalt strategy that has the potential to position us as we aim to be a future major primary cobalt producer."
Listed on the Australian Securities Exchange (ASE), Winmar Resources says it is a company focused on gold exploration in the Iberian Pyrite Belt, Spain.