Kasongo to get $20m for DRC tin ambition

[miningmx.com] – THE former deputy mines minister of the Democratic Republic of Congo (DRC), Victor Kasongo, is aiming to become the country’s sole miner of tin after being offered a $20m to mechanise his mine, said Bloomberg News.

In order to activate the loan – which has been offered by Nedbank, First Bank of Nigeria and Gabon’s Groupe BGFIBank – Kasongo must have Malaysia Smelting Corp. agree to buy 190 tons of tin from the mine per month.

“I need an off-take agreement to make sure I get the money,’ Kasongo told the newswire service at the Mining Indaba conference in Cape Town. “I’ll be the first to produce pure tin metal in Congo,’ he said.

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