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Tiger terminates sale deal for DRC copper-cobalt projects


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Tiger terminates sale deal for DRC copper-cobalt projects

Tiger Resources Ltd. terminated the sale of its Kipoi, Lupoto and La Patience copper-cobalt assets in the Democratic Republic of the Congo, after the buyer failed to satisfy the agreement terms.

Sinomine Fuhai (Hong Kong) Overseas Resource Investment Co. Ltd., a special purpose vehicle of Sinomine Resource Exploration Co. Ltd. and venture capital firm Shenzhen Oriental Fortune Capital Co. Ltd., agreed in January to purchase 100% of the company's shares in its subsidiaries.

Meanwhile, a new life-of-mine plan for its Kipoi copper assets is expected to be completed in six to eight weeks, the company said July 6.