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The Kalukundi Project was owned by the State owned Gecamines and held through an agreement with JCI Gold Limited, who were undertaking an evaluation of the property. In 2000/2001 a programme of exploration was undertaken, which expanded into a scoping study, to determine the feasibility of developing the Kalukundi Project into a mining operation.
A feasibility study was undertaken in May 2004 and was completed in May 2006. It confirmed the presence of mineable oxide ore reserves amenable to a 10 year operation by opencast mining methods, with high recoveries of copper and cobalt though a vat leach process plant and an electro-winning (SX/EW) circuit capable of producing high purity copper and cobalt metal.
This program also established the presence of significant upside ore potential from inferred resources at depth and identified numerous targets for immediate exploration.
Africo completed a Plan of Arrangement with Rubicon Minerals Corporation, among others, pursuant to which Rubicon distributed its shareholdings in Africo Resources Ltd (now called Africo Resources (BC) Ltd) to its shareholders.
