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]
| Company type | Gold mining |
|---|---|
| ASX: TGS | |
| Industry | Mining |
| Headquarters | , |
| Products | Copper |
| Website | www |
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 companys' directors resigned, and underwent administration.[7]
References
edit- ^ "TIGER RESOURCES LIMITED (TGS)". Australian Stock Exchange. Retrieved 2011-11-06.
- ^ a b c "Fact Sheet" (PDF). Tiger Resources. Retrieved 2011-11-06.[permanent dead link]
- ^ Franz Wild (Jun 24, 2011). "Trafigura's Tiger Seeks to Raise Stake in Congo Copper Mine". Bloomberg. Retrieved 2011-11-06.
- ^ Robin Bromby (September 30, 2011). "Bid for Anvil Mining puts Tiger Resources on M&A radar". The Australian. Retrieved 2011-11-06.
- ^ "Tiger Resources buys Congo's stake in Kipoi copper mine". Reuters. 2014-08-28. Retrieved 2022-08-15.
- ^ "Tiger Resources terminates $260m sale of copper assets in DRC". Mining Technology. 2018-07-09. Retrieved 2022-08-15.
- ^ "Tiger Resources enters voluntary administration". Australian Mining. 2020-11-08. Retrieved 2022-08-15.