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Tiger Resources
Tiger Resources Limited is an Australia-based mining company with two active copper extraction projects in the Democratic Republic of the Congo (DRC). The company was listed on the Australian Stock Exchange in May 1997.[1] As of 2011 the company's market capitalization was about A$350 million.[2] The Kipoi Mine has an inferred 306,000 tonnes of copper in high-grade ore. It is a joint venture between Tiger Resources (60%) and the state-owned Gécamines (40%). It was planned to start generating revenue in 2011.[2] Tiger invested more than $60 million to start the mine. By June 2011 Tiger was producing 25% copper concentrate at a rate of 130,000 metric tons a year. The company was considering using $250 million from cash flow to build a Solvent Extraction Electrowinning copper cathode plant, with capacity of 50,000 tons per year. Tiger Resources was negotiating to acquire a higher share of the operation from Gécamines.[3] The Lupoto Mine is 100% owned by Tiger Resources. Maiden resource was planned for release in 2011.[2] The European trading house Trafigura was the largest shareholder of Tiger Resources as of September 2011, owning 28% of the company. Trafigura also owned 35% of Anvil Mining, another DRC copper miner, whose sale to China's Minmetals Resources was announced in September 2011.[4] In 2014, Tiger Resources bought out Gecamines' 40% stake in the Kipoi Mine for $111 million, leaving it as the sole shareholder.[5] In 2018, after considering a plan to sell off its copper assets to Sinomine HK, Tiger called off the $260 million dollar sale.[6] Tiger was delisted from the Australian stock exchange in February 2020, the company's directors resigned, and underwent administration.[7] References
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