Modern Mining September 2022

COPPER

CCR’s Mbamba Kilenda targets copper production by 2025

Emerging copper producer Central Copper Resources (CCR) is considering a suitable listing domain as it upgrades its flagship Mbamba Kilenda project in the Democratic Republic of Congo and prepares to start building its first copper project by as early as 2023, targeting production in 2025, COO Kevin van Wouw tells Modern Mining’s Nelendhre Moodley.

P ositioned as Central Africa’s only pure-play copper miner, CCR has four main assets: the Mbamba Kilenda flagship mining project; the 12 adjacent licenses encompassing the Western Congolian Belt; the Lunga project in Zambia; and the Titan Kayeye project in the DRC. All three projects have significant high-grade resource potential. “We had completed the listing preparation on the London Stock Exchange (LSE) AIM market, but found insufficient support from institutions, owing mainly owing to ESG risks of the DRC and central Africa. We have since withdrawn the proposed listing and are evaluating Australian and Canadian Stock Exchanges as they have active listings in the DRC,” says COO Kevin van Wouw. CCR’s listing ambition is underpinned by its capital raising requirements as it embarks on the develop ment of its large scale Mbamba Kilenda project. “Over the next number of years CCR will under take further drilling to help us better understand the resource size which will allow us to design an appro priately sized project. We believe that the resource is significantly larger than its current status and our aim over the next year or two is to prove up the resource

COO Kevin van Wouw.

expansion potential. We are commencing fund rais ing for mine development and eyeing construction completion by 2024,” explains Van Wouw. However, he cautions, this timeline is largely dependent on the response of financial markets to investing in the Mbamba Kilenda project. Currently global markets face geopolitical strain and are impacted by uncertainty, with investors reticent to part with cash. However, the company is hopeful that by the end of the year, “a clearer pic ture will emerge,” which will encourage investors to invest in early-stage mining projects in Africa. Mbamba Kilenda project Located in the Kongo Central Province about 70 km

To date CCR has only drilled 4,5 km of the strike and is targeting resource expansion.

south of the capital city of Kinshasa in the DRC, the Mbamba Kilenda project covers a 528 km² area and comprises 13 contiguous exploration permits along an 85 km strike length. It has a JORC Code (2012) compliant mineral resource estimate of 11,8 mt at 3,13% total copper. “We don’t have a clear picture of exactly how far the extensions to the Mbamba Kilenda orebody are and our next programme focuses on the imme diately adjacent 5 km to the east and west. Our targeted drilling campaign will help this understanding, we hope to expand the resource and gain a clearer view of the size potential of the orebody extensions.” With the Mbamba Kilenda licenses

14  MODERN MINING  September 2022