Buenassa Signs Grant Agreement with USTDA to Advance Copper and Cobalt Refinery.
Updated: Oct 7
New York, NY, USA
On September 22, 2026, Buenassa Resources S.A. signed an agreement with the U.S. Trade and Development Agency (USTDA) to fund a pre-feasibility study for the development of a copper and cobalt refinery in the Democratic Republic of the Congo’s Lualaba Province, which will supply copper and cobalt products essential to the defense, aerospace and energy industries.
“Buenassa is proud to be the first Congolese, privately led company to translate this bilateral vision into a world-class copper and cobalt refinery,” said Eddy Kioni, Buenassa Chief Executive Officer and Founder. “USTDA’s support reflects confidence in our capacity to build strategic industrial infrastructure. This partnership will lay the foundations to position Buenassa as a key supplier along a Western-aligned critical minerals corridor, strengthening sovereign and resilient supply chains for the defense, aerospace, and energy industries that depend on them.”
The pre-feasibility study will assess potential feedstock suppliers for the refinery, develop a technical design, and define the economic and financial parameters for the project’s development. A U.S. contractor will be selected to carry out the study. Following its completion, the refinery’s construction and operation are expected to generate direct employment and skills development opportunities for Congolese workers, create openings for local and regional suppliers, and give U.S. companies operating in the mineral processing sector the opportunity to provide equipment and expertise, with the support of global and regional players.
“Copper and cobalt are two of the most vital minerals to ensuring the U.S. remains a global leader in the technology and defense sectors,” said Thomas R. Hardy, USTDA’s Deputy Director. “By partnering with Buenassa, we are expanding access for American companies to critical minerals supply chains and deepening relations with our counterparts in the DRC.”
The DRC is one of the world’s most mineral-rich countries, holding the largest cobalt deposits globally and ranking as the world’s second-largest copper producer. The Buenassa project will directly help the country capture significantly more value from its strategic resources, strengthen its economic sovereignty and build a stronger domestic industrial base, while driving development along the Lobito Corridor and across the wider region.
“As the world’s leading cobalt producer and Africa’s largest copper producer, the Democratic Republic of the Congo is determined to become a global center for critical mineral beneficiation,” said His Excellency Justin Kalumba, Minister of State, Minister of Industry. “The Buenassa refinery is a concrete response to that ambition, anchoring industrial development from the Lobito Corridor to Atlantic markets and beyond. This collaboration with USTDA reflects the strength of the U.S.-DRC Strategic Partnership, and the Government of the DRC is fully committed to this project’s success.”
The project directly supports the Strategic Partnership Agreement between the United States and the Democratic Republic of the Congo by advancing domestic mineral beneficiation, expanding downstream industrial capacity and strengthening secure, diversified critical mineral supply chains between the DRC and the U.S.
Buenassa expresses its profound gratitude to H.E. President Félix-Antoine Tshisekedi Tshilombo for his leadership and vision in advancing the DRC’s industrial transformation and strengthening Congolese participation in strategic sectors of the economy. In support of this broader national ambition, Buenassa would also like to thank the Government of the DRC, led by H.E. Prime Minister Judith Suminwa Tuluka, together with the Presidency and the Conseil Présidentiel de Veille Stratégique (CPVS), for their continued support and partnership. In particular, Buenassa would like to thank the Fonds de Promotion de l’Industrie (FPI), whose direct financial support advanced key technical workstreams and development milestones which the USTDA agreement builds upon.
Media Contact
Matthew Sheedy | Vanessa Motayo
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