Sign up Australia
Proactive Investors - Run By Investors For Investors

Winmar Resources appoints consultants to oversee responsible and ethical cobalt strategy in DRC

Kumi Consulting Ltd will develop and implement a strategy to complement Winmar’s mining and production plans.
Cobalt processing plant in DRC
The Luapula Processing Facility is in Likasi in the DRC

Winmar Resources Ltd (ASX:WFE) has appointed international consultancy group Kumi Consulting Ltd to develop and implement a responsible and ethical cobalt mining and production strategy for its proposed DRC’s operations.

The strategy will be aligned with the IFC Performance Standards and the OECD Guidance for Responsible Mineral Supply Chains.

“Proven track record”

Winmar chairman Jason Brewer said, “Kumi is, without doubt, a global leader and has a proven track record in working successfully in the DRC.

“We believe that Kumi is expertly placed to work with us in developing and implementing a responsible and ethical cobalt mining and production strategy, which will be critical to our long-term success in the country.”

 

Winmar aims to become 50% owner of the Luapula Processing Facility and the manager and operator of a new cobalt production joint venture.

This is also proposed to include several nearby mining and exploration licences.

These plans, along with the start of work by Kumi, will be implemented upon Winmar’s successful completion of re-compliance under ASX Listing Rules Chapters 1 and 2 and the resumption of trading of the company’s shares on the ASX.

READ: Winmar Resources finds high-grade cobalt at Bloom Lake Project in Canada

The appointment of Kumi is considered a key step forward in ensuring Winmar's cobalt production practices are aligned with the relevant international standards.

It is also expected to provide confidence to all its stakeholders and shareholders, offtakers and financiers, that cobalt has been responsibly and ethically sourced and produced.

Brewer said: “I have met the management of Kumi and am very impressed with their capabilities and overall approach and ongoing work in the DRC.

“Major step forward”

“For Winmar it will be a major step forward to have our planned operating practices in the DRC aligned with IFC Performance Standards and the OECD Guidance for Responsible Mineral Supply Chains.

“I am personally very pleased that the company has now committed to working with Kumi in seeking to have our planned cobalt production practices aligned with some of the highest of international standards.

“By having their input and expertise from the outset it will ensure that the Luapula Processing Facility’s practices, processes and activities are in line with the highest of standards and what is ultimately expected by all our stakeholders.”

The licences and Luapula Processing Facility are in the DRC Copperbelt.

UK-based consultancy

Kumi is a UK-based management consultancy group that specialises in helping companies develop and implement responsible sourcing and operating practices for minerals and other raw materials.

Founded in 2015, Kumi is working on responsible mineral sourcing at mine sites in central Africa, at smelters and refiners across the world, at global downstream companies, and with many industry-led conflict minerals programs.

Its current cobalt work enables it to bring insights from across the full supply chain as it works with DRC-based miners, international traders, major refiners and global automotive manufacturers.

Kumi is also working with non-governmental organisations to support the legalisation and HSE performance improvement of artisanal miners.

In the DRC, Kumi is retained by one of the world’s largest commodity traders to develop and implement a responsible sourcing program for the company’s minerals supply chains.

View full WFE profile View Profile

Winmar Resources Ltd Timeline

Newswire
December 07 2017
Newswire
February 13 2017

Related Articles

1513112117_pershing-jpeg.jpg
December 13 2017
The Toronto-listed firm's main asset is the Relief Canyon Mine in Pershing County, Nevada..
Picture of a copper car
May 01 2018
Based on 2018 projections, Aeris will have reduced debt from US$136 million to US$49 million over the last five years.
Electric cars charging
August 31 2018
ABM is also actively evaluating additional projects which it believes have potential to significantly advance the company's stated strategy of focusing on battery materials

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use