What would 78mt at 2% Copper and 0.6% cobalt be worth?, page-62

Investors still see these Congo explorers as a good bet – here’s why.

Special report: The cash is still flowing for companies active in the Congo with investors seeing the positives in backing players in the mineral-rich African nation.
At least five ASX-listed companies have raised money in the past few months to fund projects in the Democratic Republic of the Congo (or DRC).
Taruga Minerals (ASX:TAR) was the most recent to secure a backing of nearly $3 million from a group of sophisticated investors, including China’s Hongze Group.
The Hongze Group is also an investor in Okapi Resources (ASX:OKR), which is also on the hunt for cobalt in the DRC.
Prior to that Winmar Resources (ASX:WFE) successfully raised $3.1 million to pick up cobalt projects in the country.
AVZ Minerals (ASX:AVZ) has also been well supported by investors in its hunt for lithium in the DRC.
In late February the company raised a further $15 million through a placement to North American institutional investors.
Nzuri Copper (ASX:NZC), meanwhile, raised $6 million last month to advance its Kalongwe copper and cobalt project.
Major shareholders Tembo Capital and China’s Huayou Cobalt were cornerstone investors in the raising.

China desperately wants cobalt
Chinese companies have been aggressively pursuing deals to secure supplies of lithium and cobalt as the Asian powerhouse looks to establish itself as the leading player in the electric vehicle market.
Both cobalt and lithium are key components of the batteries used in electric vehicles.
China formed the Union of Mining Companies with Chinese Capital (USMCC) on the advice of the DRC mines minister.
Huayou Cobalt is part of the group, along with China Molybdenum, MMG, subsidiaries of China Nonferrous Metal Mining Group, and Sicomines.
Although there has been concerns raised over issues in the DRC, including the government’s recent changes to its mining code, explorers still see great potential in the country.
China Minmetals responded positively to the new mining rules and thinks the sovereign risk is very low.
“In general, we have been very successful in the Democratic Republic of the Congo in the past seven years,” the company said in March.
“Therefore, we believe that the country’s policy risks are not significant in the future.”

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