Kipushi was an underground producer from 1925 to 1993. Significant investment will be required to rehabilitate above-ground infrastructure and equipment.
Once an agreement is in place, Gcamines will transfer Kipushi’s exploitation permit to a joint venture controlled by Adastra’s wholly owned subsidiary, Zincongo, and Gcamines. Zincongo will then begin technical and financial feasibility studies.
Kipushi is home to a NI-43-101-compliant measured and indicated resource of 16.9 million tonnes averaging 16.7% zinc and 2.2% copper. The resource remains open along strike and downdip.
The mine operated from 1925 until 1993. Adastra has already spent some $3.5 million identifying commercially viable rehabilitation options.
Kipushi is on the border with Zambia.
Elsewhere in the DRC, Adastra CEO Tim Read says his company’s recently inked deal at the Kolwezi cobalt-copper tailings project will serve as a template for redevelopment of Kipushi.
Kolwezi’s tailings hold a resource of 113 million tonnes grading 1.49% copper and 0.32% cobalt. Adastra has an 82.5% interest in the project; Gcamines, 12.5%; and the government, 5%.
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