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Fe appoints experienced Bouchart as general manager of Kasombo copper-cobalt project

The cobalt price has increased circa 50% since Fe acquired stake in Kasombo.
Picture of cobalt symbol on periodic table
Bouchart brings experience in exploration, development and production

Fe Limited (ASX:FEL) has appointed Philippe Bouchart as the general manager of the company’s Kasombo Copper-Cobalt Project located in the Democratic Republic of Congo.

Bouchart is ideally suited to the position having held executive positions in the mining industry for 26 years.

Importantly, Bouchart brings experience in exploration, development and production, much of it across the copper and cobalt commodities.

Sage highlights Bouchart’s experience

Tony Sage, chairman, said: “Phillipe Bouchart brings an incredible amount of experience to the role and has worked for over 15 years in the Democratic Republic of the Congo.

He has extensive experience with cobalt projects and on constructing and optimising metallurgical plants to maximise cobalt recoveries and returns.

I look forward to seeing the progress Mr Bouchart makes and in developing the Kasombo Project.”

As well as attracting high profile management, the Kasombo project has drawn interest from the investment community.

READ: Fe Limited attracts investors to advance cobalt asset in the Democratic Republic of Congo

Fe Limited’s entry is well timed

In July 2017, FEL entered in to a binding Terms Sheet with Cape Lambert Resources Limited (ASX:CFE).

Under the agreement CFE was to assign to Fe Limited 100% of the rights and obligations it has in Kasombo project.

Since the binding term sheet was signed off the cobalt price has increased circa 50%, recently passing US$80,000 per tonne.

Kasombo provides substantial exposure

The Kasombo Project comprises three mineralized areas of approximately 600 hectares.

It is situated approximately 25 kilometres from the Democratic Republic of the Congo’s second largest city, Lubumbashi, in the Katanga Copper Belt. 

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