Central Copper Resources plans Australia/Canada listing for DRC financing

By David Whitehouse
Posted on Monday, 18 July 2022 06:00

A production line of copper foil for lithium batteries at Tongling, Anhui province, China. REUTERS/Stringer

Central Copper Resources (CCR) plans to list on either the Australian ASX exchange or the TSX-V exchange in Toronto to raise funds for copper mining in the Democratic Republic of Congo, CEO Luke Knight tells The Africa Report.

The listing will seek to raise funds to start production at the Mbamba Kilenda project in western part of DRC, and to conduct further exploration, Knight says in Cape Town. The company is in discussions with brokers on both exchanges. Knight aims to complete the listing by the end of 2022, subject to market conditions, and might wait until early 2023.

Copper is an essential input for energy transition, being needed for electric vehicles, solar and wind power equipment. According to research from IHS Markit in July, demand will grow from 25 million metric tons (MMt) today to about 50 MMt by 2035 and 53 MMt by 2050.