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Kazakhstan Potash to acquire 51% stake in DRC copper-cobalt projects

Kazakhstan Potash Corp. Ltd. plans to acquire a 51% interest in the Kikata North and Mifumbi copper-cobalt projects in the Democratic Republic of the Congo, the company said June 8.

A memorandum of understanding with La Société Katanga Copperbelt Mining SA calls for Kazakhstan Potash to pay A$1.0 million by July 31 and to issue 50.0 million shares at 6 Australian cents apiece and A$5.0 million of convertible notes.

In early April, Kazakhstan Potash signed a memorandum of understanding to acquire a 51% stake in Mining Mineral Resources SARL's Malemba lithium project in the DRC.