Buenassa SARL has been granted $3.5 million by the Democratic Republic of Congo’s Industry Promotion Fund to facilitate the establishment of a copper and cobalt refinery in Lualaba province. The company announced this development in a recent press release.
The funding, allocated by the Industry Minister Julien Paluku, is intended to kickstart the project aimed at bridging the gap between mining and the production of battery precursors.
The initial focus will be on conducting studies, with production slated to commence in 2027. Buenassa SARL has set ambitious targets of producing 30,000 tonnes of copper cathodes and 5,000 tonnes of cobalt sulfate annually.
Eddy Kioni, the founder and managing director of Buenassa, expressed optimism about the project’s potential to drive the development of an integrated value chain for battery and electric vehicle manufacturing.
He emphasized the company’s commitment to promoting responsible industrialization and sustainable economic growth in the region, with a focus on benefiting local communities.
Buenassa SARL is actively seeking additional support from various funding sources, including local, regional, and international entities, to further bolster the project.
