Bankers Cobalt Corp. said Feb. 2 that it struck a deal to earn up to a 70% stake in six cobalt and copper concessions in the southern Democratic Republic of the Congo's copperbelt.
The deal, comprising 92.4 square kilometers of concessions, increases the company's landholding in the country to 391 square kilometers.
Bankers Cobalt did not name the seller but said it was the same party that agreed in early January to allow the company to earn up to a 70% stake in six concessions.
"Companies appear to be coming to the realization that if you want to be a contender in the global cobalt sector, your company must consider acquiring suitable projects in the southern DRC copperbelt," said Kevin Torudag, president of the company's DRC subsidiary.
