(Ecofin Agency) - Nzuri Copper published today April 16, an optimized feasibility study that improved economic estimates for its Kalongwe copper/cobalt project in DR Congo. Although the required initial investment remains at $53.12 million compared with the previous estimates, the post-tax net present value increased to $130 million. As well, the internal profitability rate increased to 76%.

Moreover, the mine lifespan was improved to 8 years from only one year. The company has also lowered the average annual output to 18, 657 tons of copper and 1, 370 tons of cobalt as well as the cost for a pound to 0.85$.

According to the CEO Mark Arnesen, these new estimates confirm the company’s projection that the project gets a tremendous potential that can be fully exploited through further expansions funded by the cash flows from the project’s first development stage.

He also indicated that the results provide a clear roadmap that will help guide the project’s soon-to-begin basic engineering study.

Let’s recall that Nzuri Copper Ltd owns 85% of the Kalongwe open pit mine.

Louis-Nino Kansoun