DRC
Key facts
- Full name:
- Democratic Republic of the Congo
- Capital:
- Kinshasa
- Population:
- 66 million (2009 estimate)
- Area:
- 2 344 858km²
- Major languages:
- French (official), Lingala, Kiswahili, Kikongo, Tshiluba
- Major religions:
- Christianity, Islam, indigenous
- Major exports:
- Diamonds, gold, copper, cobalt, wood products, crude oil, coffee
- Government:
- Republic
Mineral regime and mining legislation
Potentially one of the richest mining countries in Africa, the DRC possesses vast resources of copper, cobalt and diamonds. Most mining activities are concentrated in the central, southern and eastern parts of the country. The famous Copperbelt extends from Zambia into the DRC near Lubumbashi in the Katanga province. State-controlled La Générale des Carrières et des Mines (Gecamines) manages the country’s mining activities, particularly the copper and cobalt mines.
Benzu's strategy
Cluster approach in prolific copper region
- Katanga Province – home to the African Copperbelt, one of the greatest metallogenic regions in the world - 10% world’s copper, 50% cobalt
- The area east of Tenke-Fungurume Giant Mine (reserve of 135Mt @ 3.1%Cu) in the Katanga Province has been targeted by Benzu
- Signed one JV with Wamico where exploration has begun
- Benzu holds 70% in Cominex which holds a significant license bordering the Tenke-Fugurume complex. Benzu has entered into a JV partnership with Mukuba Resources (TSX: MKU) to develop this project whereby Mukuba will earn 51% of the Benzu interest in return for exploration expenditure as well as a minority shareholding in Mukuba - exploration is well under way - drilling has commenced
- Copper – another key commodity for a sustainable growth portfolio – demand set to continue – world consumption over next 25 years set to exceed all copper metal mined to date
- Benzu looking to establish position and amalgamate clusters into larger resources
Fungurume East Project – Overview
The Fungurume East project is situated in an area where favourable structures have been identified with excellent geology. It hosts some of the richest and largest copper cobalt deposits – 89 already known with sizes ranging from 90–580Mt @ average 3% Cu. There are many small but high-grade deposits available occurring in contiguous geographic locations and Benzu’s exploration objective is to discover a resource of 30Mt @ 3% Cu, mineable by open-cast methods. Parts of the belt remain underexplored with significant potential for further discoveries – these are being targeted: some deposits are structurally complex; areas have alluvium/laterites which mask underlying geology and have affected prospecting methods (e.g. geochemistry); others have been previously abandoned for easier deposits. As well as the Wamico licence, two other permits in same area are under discussion and other tenements that have been recently relinquished by a third party are to be applied for.
Exploration programme
- Cominex: JV agreement signed end of October 2010, and has agreed a further JV on property with Mukuba Resources
- Geophysical work has confirmed anomalies along trend, Mukuba will spend US$3 million to earn in 51% of project
- Aeromagnetic and radiometric survey completed
- RC Drilling has commenced, July 2011
-
Wamico: JV agreement signed end of June 2010
- Reconnaissance geological mapping completed has identified favourable structures within 50% of licence areas
- Aeromagnetic survey completed, covering more prospective parts of the two licences
- Trenching/pitting planned as next exploration activity, followed by RC/RAB drilling on a reconnaissance scale
Resource evaluation
The Fungurume East project, encompassing Benzu’s various JVs, is a greenfields exploration stage in that no resources are known within the areas secured to date. However, the area is directly surrounded by mature, world-class mines and as such is nearly a brownfields terrain: the Tenke-Fungurume giant mine in the west, the Kakanda deposits in the south-west and the Gecamines mines in the south. Because geological structures in which copper deposits have been found straddle the various mining concession areas as well as the Fungurume East target area, the probability that Benzu will discover a cluster of economically viable deposits is believed to be significant.
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