In 2013, GICC signed a Joint Venture agreement with Regal Resources (Nzuri Copper), an Australia Mining company and Traxys, a Luxemburg based commodity trading company for their permit 12198 in which GICC kept 40% shares in Kalongwe Mining
In July 2016, GICC sold 13% of its shares to Nzuri Copper Limited for a consideration of 50% of the value and purchased 11,103,739 of their shares to become the 3rd top shareholder in Nzuri Copper Limited. Nzuri’s stocks are traded in Australian Stock Exchange (ASX-NZC)

In July 2016, GICC also transferred 2% shares to the Democratic Republic of Congo as per DRC mining code requirements when converting a Research Permit to an Exploitation Permit

In November 2016, GICC sold an additional 15 shares to Nzuri Copper Resources and kept 10% control of Kalongwe Mining SA

The Kalongwe project completed a 6800m drilling program in two phases and has embarked now on the Bankable Feasibility Study. In July 2016, Regal completed the acquisition of 30% of Traxys shares and 13% of the GICC shares to become the majority shareholder

So far, preliminary results from the ALS Laboratory indicates good mineralization with JORC Inferred Estimate of 302 000 Tons of CU @2.7% and 42 700 Tons of Co @0.57%

There is a project pipeline to undertake a full mechanized exploitation in this Perimeter as well as a full exploration program on the 400Km2 of concession that is part of the JV between Ivanhoe and Regal Resources

Download the Kalongwe Project Profile

Download the latest Nzuri Copper’s Corporate Presentation