The Copperbelt hosts several tailing dumps that contain average grades higher than most hard rock mines globally. First Quantum has several projects in the DRC, which have been suspended pending improvement of the security situation in the country. Dikulushi has been described as one of the highest grade unexploited copper silver orebodies yet to be exploited. Work was halted by Anvil in 1998 by the security situation, but following talks with the Government, Anvil intends continuing its feasability study. Once in production, the Kolwezi tailings project would be among the world's lowest cost producers of both copper and cobalt - producing an estimated 165 Mlb and 15.4 Mlb cobalt annually.
Project financing is the critical issue.
This operation has been downscaled by Panorama on the back of the security situation. The Kolwezi area has been the focus of several joint venture developments with Gecamines. However, a force majeure was declared in 1999, and all activities have been suspended. BHP World Exploration has an option to earn a major interest in the project. Improvements in the DRC have prompted fresh investor interest in the DRC's vast resources, with Phelps Dodge joining BHP on the Tenke Project.