AFDG (now Copper Intelligence) has successfully entered into a binding agreement to complete the Butembo mining concession in the eastern Democratic Republic of the Congo. In conjunction with SPA, AFDG shares were issued to licensees and ownership of the mining interest is now held by a US-based entity, completing a reverse takeover transaction (RTO).
The deal was signed in parallel with the Strategic Minerals Roundtable held in 2016. Washington DC In conjunction with the launch of Project Vault by President Trump and the attendance of His Excellency the President. Felix Shisekedi of the Democratic Republic of the Congo, Aldo Cesanothe Director of Copper Information, and the Secretary of State for the First Important Minerals Ministers Meeting marco rubio at the state department Washington DC
Copper Intelligence, Inc became the first independent DRC company to go public. US.
andrew grovesChairman of Copper Intelligence, said: Africawith assets concentrated in the world’s finest copper deposits in the DRC. This geology and DRC’s expected top-grade production gives us the opportunity to establish a unique, purpose-built copper exploration company. The technology team will continue to drive shareholder value through a systematic exploration program, asset additions and validation of results. ”
Aldo Cesano“We believe Copper Intelligence will make a significant contribution to the people and communities in the Democratic Republic of the Congo,” he added.
Alan KesslerThe directors and founders concluded: “We are confident that Copper Intelligence has the resources, timing and execution capabilities to address the global copper shortage and create shareholder value as a pioneering African company.”
About the Butembo Copper Project
Butembo is a low-lying, near-surface, Tier 1 exploration opportunity located near Mount Rwenzori. of uganda The largest copper mine (Kilembe with 4 million tonnes of proven reserves) is located just 50km from the Ugandan border and has confirmed rail access. High-grade copper samples to date have yielded copper assays of 18%, which, if maintained during production, would rank among the best in the world.
Position of the industry and DRC
According to the Washington Post, the annual copper shortage could reach 6 million tons or more by 2035, based on projected demand scenarios. The United Nations Conference on Trade and Development (UNCTAD) estimates that closing this gap will require the opening of around 80 major new mines by 2030.
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Media contact:
www.copperintelligence.com
Maxine Gordon
mg@africandiscoverygroup.com
(917) 478-0406
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Source: African Discovery Group
