Mississauga, ON -- (SBWIRE) -- 04/29/2014 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Handa Copper Pens First Agreements For African Properties.”
Companies mentioned in this article include Handa Copper Corporation (TSX-Venture:HEC).
The Republic of Congo was the sixth-largest copper producer in the world in 2013, overtaking Zambia to become the biggest producer in Africa. By producing 846,000 metric tons of the industrial red metal, Congo edged out Zambia by about 2 percent, the first time the country outproduced its southern neighbor in 25 years. The country is home to some massive base metal reserves, including state-owned Gecamines Deziwa and Ecaille C mining concessions, which have 4.9 million certified tons of copper and more than 400,000 tons of cobalt reserves. The War in Congo, poor management and electric power problems have made the mammoth project a challenge, to say the least, in the last three centuries, choking production from nearly half-a-million tons per year in the early 1980’s to only 41,000 tons in 2013. Gecamines said last week that it intends to ramp-up production to 60,000 tons this year.
Vancouver’s Handa Copper Corporation (TSX-Venture:HEC) has a goal to get a piece of the Congo copper pie as part of its overall strategy to build a portfolio of copper projects in Africa. Handa has come about in a round-about fashion, originally called New Hana Copper Mining Ltd., a spin-out of Hana Mining, a company acquired by Cupric Canyon Capital LP in February 2013 for $82 million. Last week, New Hana Copper Mining changed its name to Handa Copper Corp., although nothing was changed with the capital structure in connection with the new name.
The full version of this article can be found at:
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