Kazakh miner Eurasian Resources Group (ERG) plans to invest $800 million to revamp its Comide copper, cobalt mine in Democratic Republic of Congo, it said on Friday.
“The project includes the construction of a hydrometallurgical plant, an extensive exploration and drilling programme, as well as mine development,” the company said in a statement.
ERG expects the hydrometallurgical plant to be complete by the end of 2025.
The plant is designed for phased operational output, with expansion potential to produce approximately 120,000 tonnes of copper cathode and 15,000 tonnes of cobalt hydroxide annually.
(By Ashitha Shivaprasad; Editing by Daniel Wallis)
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