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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.
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Built to meet the increasing global demand for battery-grade cobalt sulfate 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.
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At its core, the project embraces the principles of Climate-Smart Mining, incorporating low-emission hydrometallurgical processes, blockchain-based traceability tools, and a strong commitment to social, environmental, and governance (ESG) standards. Buenassa is also involved in the development of critical minerals warehousing to strengthen government oversight and promote transparent pricing.
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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 proposed process plant is planned to consist of a three-stage crushing (jaw crusher, cone crusher and HPGR), agitated leach, solvent extraction (SX) and electrowinning (EW) hydrometallurgical facility capable of treating 200 t/h of run-of-mine (ROM) ore from open pits operated by large scale mining operations where the DRC Government or GECAMINES holds an interest, combining purchasing and toll treatment agreement depending on opportunities with larger producers interested to secure long term offtake agreement or that just require additional processing capacity of their mined ROM when their installed name plate capacity needs to be increased.
The plant would also accept ore from small-scale and artisanal mining operations that meet standards through a partnership with Enterprise Générale du Cobalt (EGC). It would have the capacity to potentially also process historic TSF and rock dump material. The plant would have a potential projected annual throughput of 1 752 kt/a with an average head grade of 2 % Cu and 0.4 % Co. ​
KEY FIGURES
120,000
TONNES
ESTIMATED PRODUCTION CAPACITY OF COPPER CATHODE
20,000
TONNES
ESTIMATED PRODUCTION CAPACITY OF COBALT SULPHATE SALTS IN TONNES
1,510
M USD
ESTIMATED REVENUE FOR PHASE I AND 2 OF PRODUCTION
ABOUT CLIMATE SMART MINING
The Buenassa Refinery Project is guided by the principles of the Climate Smart Mining Initiative, a global framework that promotes the responsible extraction and processing of minerals essential to the energy transition. Aligned with this vision, Buenassa is committed to minimizing the environmental, social, and climate footprint of its operations across the entire value chain. By prioritizing low-impact technologies, scaling up technical expertise, and attracting responsible investment, the project aims to turn the DRC’s critical mineral wealth into a long-term asset for sustainable development. On the environmental front, all non-plant infrastructure is being designed to operate on renewable or green energy, significantly reducing carbon emissions and aligning with global decarbonization targets.
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.
​Buenassa is entering the Bankable Feasibility Study (BFS) and Front-End Feasibility Study (FEFS) phase. These studies will define the technical specifications, economic viability, and project execution strategy. Concurrently, a global financing roadmap is being prepared.
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.