Earlier in the year, metal processing and trading company Buenassa was provided $3.5-million as an initial tranche payment from the government of the Democratic Republic of Congo (DRC) to establish a project preparation facility as part of an innovative copper and cobalt refinery project.

Buenassa lists the project as being capable of producing 30 000 t/y of copper cathode and 5 000 t/y of cobalt sulphate.

The project will be located in Lualaba province and is anticipated to become operational by 2027, within 36 months of initiation.

The first tranche capital, provided through the Fonds de Promotion de l’Industrie, is specifically earmarked to bolster the crucial first phase of the hydrometallurgical refinery complex’s development, emphasising Buenassa’s dedication to progressing a “transformative and environmentally conscious initiative”.

“This project will play a pivotal role in the development of an integrated value chain around battery and electric vehicle manufacturing, aligning with the government’s pledge to promote responsible industrialisation and regional green economic development with a lasting positive impact on local communities,” states Buenassa founder and CEO Eddy Kioni.

Buenassa reports that the project, thus far, has garnered extensive support, with the United Nations Economic Commission for Africa facilitating partnerships with leading financial institutions, including Afreximbank, African Development Bank, Africa Finance Corporation and the Arab Bank for Economic Development in Africa.

In addition, Buenassa aims to collaborate with local, regional and international funding entities to further propel this initiative

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With a steadfast commitment to fostering low-carbon mobility and responsible energy consumption, Buenassa is poised to deploy a leading copper and cobalt refining complex, significantly enhancing the DRC’s capabilities as a global supplier of critical minerals and metals.

“Buenassa is dedicated to ensuring an ethical, just and equitable energy transition and supporting the DRC’s role in shaping future global dynamics,” says Buenassa advisory board chairperson Marie-Paule Donsimoni-Bupp.

In pursuit of its vision, Buenassa has solidified crucial partnerships, securing financial backing structuring capacity with the US-based financial advisory firm Delphos International, and enlisting the technical expertise of international mining engineering advisory firms, including the South Africa-based MET63, Britain-based Bara Consulting and Germany-based DMT Group.

Buenassa is also committed to integrating blockchain-based traceability solutions and deploying critical minerals warehouse infrastructure aimed at supporting the DRC government in better control of metal movements and international market prices which have a significant impact on its economy.

The DRC government’s support for the Buenassa refinery project reflects its aim to fast-track the mineral resource-based industrialisation plan by encouraging synergies between the public and private sectors, says DRC Industry Minister Julien Paluku Kahongya.

“Through this project, Buenassa will support the DRC in reshaping global supply chains to ensure balanced access to critical metals needed for military and commercial applications,” concludes Kioni.