The Buenassa Refinery Project
ABOUT THE PROJECT
Buenassa is developing a copper and cobalt hydrometallurgical refinery in Lualaba Province, at the heart of the Democratic Republic of Congo’s (DRC) Copperbelt. This project positions Buenassa as a pioneering Congolese-owned company with the ambition to redefine global access to critical minerals through responsible local beneficiation.
Built to meet the increasing global demand for battery-grade cobalt metal & sulphate salts and LME Grade A copper cathodes, the refinery aligns with the DRC’s strategy for value addition and local processing. The plant will operate without a captive mine, sourcing concentrate from existing operations where the state holds equity, as well as through commercial and offtake agreements.
At its core, the project is built on a commitment to responsible, low-impact hydrometallurgical processes, blockchain-based traceability tools, and the highest standards of governance contributing to the security and resilience of global critical mineral supply chains."
This refinery is not just an industrial facility it is a strategic asset designed to rebalance the global critical mineral value chain, shifting more economic benefit toward critical-minerals-producing nations while securing ethical supply for global markets.
ABOUT THE PLANT
The refinery will use a proven hydrometallurgical process, including solvent extraction and electrowinning, to produce LME Grade A copper cathode and cobalt (metal & sulphate).
Feedstock will be sourced exclusively from industrial mining operations in which the DRC Government holds an equity interest, while ensuring that the highest standards of compliance, traceability, and responsible sourcing are met
KEY FIGURES
120
KTPA
ESTIMATED PRODUCTION CAPACITY OF LME GRADE A COPPER CATHODE (upon ramp-up)"
20
TPA
ESTIMATED PRODUCTION CAPACITY OF COBALT CONTAINED (IN METAL & SULPHATE)
upon ramp-up.
OUR APROACH TO RESPONSIBLE SOURCING
Buenassa is committed to delivering responsible, traceable, and fully compliant critical mineral supply chains.
Our approach is aligned with internationally recognised frameworks including the IFC Performance Standards, the Equator Principles, and the OECD Due Diligence Guidance for Responsible Mineral Supply Chains.
We operate exclusively with industrial mining partners subject to rigorous traceability, compliance, and governance controls, ensuring that every tonne of material processed by the Buenassa Refinery meets the highest standards expected by global defence, industrial, and commercial partners.
TIMELINE
Q1 2024
In March 2024, baseline studies were initiated. Several sites in the Kolwezi region were assessed for their geotechnical properties, proximity to energy and water infrastructure, and overall feasibility. This phase laid the groundwork for selecting an optimal location for the refinery.
Q3 2024
A full Scoping Study was completed, following months of technical work by engineering consultants MET63 and Bara Consulting. In September 2024, a Preliminary Economic Assessment (PEA) confirmed the viability of the refinery project and established initial capacity targets.
Alongside the 79th United Nations General Assembly (UNGA79), Buenassa co-hosted a high-level roundtable in New York in September 2024, in partnership with Foreign Policy. Key participants included U.S. Under Secretary of State for Economic Growth, Energy and the Environment, Export-Import Bank of the United States Chair, DRC Minister of Mines, DRC Presidential Deputy Chief of Staff, the Chairman and Managing Director of Entreprise Générale du Cobalt (EGC), Cadastre Minier (CAMI) Managing Director, and leadership from Afreximbank. The Chairman of Gécamines and a delegation from Buenassa also participated, alongside various stakeholders from public institutions and private investment firms. The session focused on fostering international partnerships and attracting investment into critical minerals supply chains vital for the global energy transition.
Q2 2025
A defining milestone was reached as the Congolese Government was onboarded as a strategic equity partner in Buenassa Resources S.A., the project’s lead entity. The state was granted a 10% golden shares and formalized this partnership with sovereign support for the refinery and underscored a shared commitment to domestic value creation, transparency, and industrial sovereignty.
Q1 2023
Buenassa was officially established, marking its strategic entry into the Democratic Republic of Congo’s critical minerals and metals processing industry. The company was positioned from the outset to play a transformative role in building domestic capacity for value-added mineral beneficiation.
Q4 2023
A critical financial milestone was achieved in November 2023, when a $3.5 million grant was secured from the Fonds de Promotion de l’Industrie (FPI), the government’s industrial development fund. This funding enabled the formal launch of Project Preparation activities, including the mobilization of technical teams and strategic advisors.
Q4 2024
Cadastre Minier (CAMI) designated a senior technical official to conduct a site validation mission in Kolwezi, Lualaba Province. The visit, carried in November 2024, aimed to confirm the suitability of a site for the planned refinery.
Buenassa is entering Definitive Feasibility Study (DFS). The studie will define the technical specifications, economic viability, and project execution strategy. Concurrently, a global financing roadmap is being prepared.