Regal Resources of Australia has signed a Memorandum of Understanding with Traxys Europe SA to acquire, explore and develop a potentially significant copper and cobalt project in the Katanga Province of Democratic Republic of Congo. The indicated mineral resources are 739 million tonnes, with a grading of 2.6% Cu.

The Kalongwe project falls within the Central Africa Copperbelt, some 60km from Kolwezi in Katanga, and 15km from Kamoa, considered to be Africa‘s largest high-grade copper discovery.

Kalongwe presents an exciting opportunity for Regal, and appears to be an ideal project for the company in its current phase of development,” said MD David Young. The project offers the potential for early positive cash-flow generation from semi-mechanised mining.

Regal and Traxys are jointly reviewing other copper opportunities in the DRC, with the aim of building a portfolio of strategically-important projects.

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