Overview
The Kasese mine is situated 420km west of Kampala in the south western parts of Uganda, near the DRC was placed on care and maintenance pending an improvement in the cobalt price in 2002. In January 2004 the Kasese Cobalt Company Ltd (KCCL) announced that it would resume cobalt production at its plant in Uganda february 2004 amid higher prices for the metal. The $110 million cobalt plant has the capacity to produce around 1,000 tonnes a year of cobalt, but was shut down and put on maintenance in August 2002 after losing an average of $18 million a year.
In September 2004 Uganda Gold Mining Ltd. (YGM) signed an agreement with Kilembe Mines Ltd. whereby UGM can earn a 70% interest in the Kilembe Copper-Cobalt Mine in western Uganda by financing and carrying out exploration and completing a bankable feasibility study. Kilembe Mines Ltd. has held the property since 1975. Previously, Falconbridge Ltd. worked the mine and between 1956 and 1977, the mine produced over 16,000,000 tonnes of ore grading 1.98% copper and 0.17% cobalt. The most recent resource estimate was completed by S. Le Brun in 1997 using a geostatistical block model and available drill data. In the two zones Lower Bukangama and Eastern, he reported an in-situ resource of 3.15 million tonnes grading 0.18% cobalt and 0.97% copper. This historical estimate is considered relevant but is also not a NI 43-101 defined resource.
Organisations (1)
Kasese Cobalt Company Ltd :[ Add More ]
Facilities (4)
Kasese, Kilembe, Namekara, Nyanga
Participating Organisations
Banff Resources Ltd
Banff Resources operates the Kasese Cobalt Processing Facility.
