Tilwezembe

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Tilwezembe
Location
Tilwezembe is located in Democratic Republic of the Congo
Tilwezembe
Tilwezembe
Province Katanga Province
Country Democratic Republic of the Congo
Coordinates 10.799405°S 25.692333°E / 10.799405°S 25.692333°E / -10.799405; 25.692333Coordinates: 10.799405°S 25.692333°E / 10.799405°S 25.692333°E / -10.799405; 25.692333
Production
Products Copper, Cobalt
Owner
Company Katanga Mining
Website www.katangamining.com

Tilwezembe is an open-pit copper and cobalt mine in Katanga Province of the Democratic Republic of the Congo operated by Katanga Mining, a subsidiary of Glencore.

The mine covers an area of 7.64 square kilometres (2.95 sq mi). It has an indicated nine million tones of ore with 1.89% copper and 0.60% cobalt. Mining in the Tilwezambe pit has taken place off and on since 1999. At first this was done by the state-owned Gécamines using contract labor. For a while, artesanal miners took over.[1]

In March 2004, Dan Gertler International and Beny Steinmetz Global founded a firm named Global Enterprises Corporate (GEC). In May 2004 GEC signed a preliminary agreement with Gécamines, finalized in September that year, to rehabilitate and operate the Kananga and Tilwezembe mines. The deal was ratified by presidential decree.[2] In January 2008 Katanga Mining finalized acquisition of Nikanor PLC for $452m.[3] A joint venture of Katanga Mining (75%) and Gécamines (25%) began mining in 2007.[1] In November 2008, Katanga Mining said they had temporarily suspended mining and ore processing at the Kolwezi concentrator due to the depressed price of cobalt.[4]

References[edit]

  1. ^ a b "An Independent Technical Report on the Material Assets of Katanga Mining Limited...". SRK Consulting. 17 March 2009. Retrieved 2011-11-06. 
  2. ^ Barry Sergeant (3 Apr 2007). "Nikanor's DRC mining contract quandary". Retrieved 2011-11-16. 
  3. ^ "History". Katanga Mining. Retrieved 2011-11-16. 
  4. ^ "Kolwezi Concentrator Update". Katanga Mining. November 21, 2008. Retrieved 2011-11-06.