NEW YORK – Today, the U.S. Trade and Development Agency signed an agreement with the Congolese-based mineral processing company Buenassa Resources S.A. to fund a pre-feasibility study that will enable the construction of a copper and cobalt refinery in the Democratic Republic of the Congo’s Lualaba Province. The refinery will produce copper and cobalt products essential to the energy, construction, artificial intelligence, and defense industries.
“Copper and cobalt are two of the most vital minerals to ensuring the U.S. remains a global leader in the technology and defense sectors,” said Thomas R. Hardy, USTDA’s Deputy Director. “By partnering with Buenassa, we are expanding access for American companies to critical minerals supply chains and deepening relations with our counterparts in the DRC.”
The study will assess potential feedstock suppliers for the refinery, develop a technical design of the refinery, and define the economic and financial parameters for the refinery’s development and long-term viability. Following the completion of the study, the refinery’s construction and operation will generate opportunities for American companies operating in the mineral processing space to provide equipment and expertise.
USTDA-funded programming is carried out by U.S. companies. Businesses interested in submitting proposals for the pre-feasibility study should visit www.ustda.gov/work/bid-on-an-overseas-project.
The DRC is one of the most mineral-rich countries on the planet, boasting the largest deposits of cobalt anywhere on earth. It is also Africa’s largest producer of copper and globally the second largest producer behind Chile. The project with Buenassa will help further tap the country’s mineral wealth, while also spurring economic growth in Lualaba Province.
“As the world’s leading cobalt producer and Africa’s largest copper producer, the Democratic Republic of the Congo is determined to become a global center for critical mineral beneficiation,” said His Excellency Justin Kalumba, Minister of State, Minister of Industry. “The Buenassa refinery is a concrete response to that ambition, anchoring industrial development from the Lobito Corridor to Atlantic markets and beyond. This collaboration with USTDA reflects the strength of the U.S.-DRC Strategic Partnership, and the Government of the DRC is fully committed to this project’s success.”
“Buenassa is proud to be the first Congolese, privately led company to translate this bilateral vision into a world-class copper and cobalt refinery,” said Eddy Kioni, Buenassa Chief Executive Officer and Founder. “USTDA’s support reflects confidence in our capacity to build strategic industrial infrastructure. This partnership will lay the foundations to position Buenassa as a key supplier along a Western-aligned critical minerals corridor, strengthening sovereign and resilient supply chains for the defense, aerospace, and energy industries that depend on them.”
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The U.S. Trade and Development Agency is the U.S. government’s first mover on critical infrastructure development in emerging markets, advancing the shared strategic priorities of the United States and our overseas partners while creating opportunities to deploy trusted U.S. solutions. USTDA funds the upfront technical work that accelerates the development of infrastructure projects, helping them attract the financing they need for implementation and procurement of U.S. goods and services.
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