Alexander Mining will build a cobalt processing plant in partnership with Anvil Mining. It will be built as a pilot project at the Anvil Mining owned Mutoshi deposit in Congo. The two companies have signed a joint venture agreement to build and operate the plant that will treat 150 metric tons of cobalt at the site.
The London and Toronto listed companies will help each other develop the mine in the Kolwezi region of the Katanga province. The initial revenue from sales will be used to repay costs to both companies and the profits when generated will be equally distributed between the two joint venture partners.
Alexander Mining will provide the mineral processing technology known as Ammleach for processing the ore and producing the cobalt metal from it. The company is also in talks with other people in the Democratic Republic of Congo for sharing this technology. The current deal stands on the condition that the London based company will be able to obtain the finance required for the project.
Matt Sutcliffe, the chairman of Alexander Mining was upbeat as he said that they were delighted to enter into this agreement with Anvil, one of the pioneers in successfully advancing the mining industry in the DRC. The agreement is a major advance for Ammleach.