‘Hopes for cobalt mining in Uganda’

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‘Hopes for cobalt mining in Uganda’

9:01 CAT | 29 Jan 2019

An open pit mine in Kolwezi, in neighbouring DR Congo, where cobalt and copper is extracted, File photo: Getty Images

Uganda may have more cobalt that previously thought, Canada’s mining company M2 Cobalt Corporation said on Tuesday, news agency Reuters reports.

“We are excited so far that in this short time we got really promising results in three target areas,” Jennifer Hinton, the firm’s director for East Africa operations, told Reuters.

The discovery will help diversify the supply of cobalt, a mineral needed to make electric cars as it is a key component in batteries.

The find followed extensive airborne surveys and drilling in three areas near a historical copper mine close to Uganda’s border with Democratic Republic of Congo, where more than 60% of the world’s cobalt is produced.

“Grades of up to 1.75% cobalt, 0.91% copper and 0.26% nickel combined with the size of our targets are extremely encouraging,” Ms Hinton said, adding that there could be “a bigger regional source of high cobalt concentrations”.

M2 Cobalt believes its Uganda property holds huge promise because parts of it shares geological similarities with DR Congo’s cobalt-rich south-eastern Katanga region.

Its other mining area is close to the DR Congo’s mineral-rich Kilembe region.

Uganda’s Department of Geological Survey and Mines says Kilembe has an estimated 4 million tonnes of ore, of which 1.98% is estimated to be pure copper and 0.17% cobalt.

“Historically it was a world-class producer. So we know cobalt is there,” Ms Hinton is quoted as saying.

Source: BBC