U.S. Listed Firm Acquires Butembo Copper Project in Eastern DRC

African Discovery Group (AFDG) has acquired the Butembo copper project in eastern Democratic Republic of Congo, a region affected by insecurity. The U.S.-traded company confirmed it signed a definitive share purchase agreement with Grabin Mining SAS, which holds the exploration permit.

The transaction was structured as a reverse takeover. Through the issuance of shares to the permit holders, the listed entity absorbed the previously unlisted asset. Ownership of the mining interest now sits within the U.S.-domiciled company. The former asset holders have become shareholders. The deal remains subject to regulatory approval, including in the DRC.

Listing Structure and Corporate Rebrand

AFDG trades on the U.S. over-the-counter (OTC) market, a segment with lighter regulatory requirements than major exchanges such as the NYSE or Nasdaq. Public filings show the company has changed direction in the past before pivoting toward metals.

Following the acquisition, the group rebranded as Copper Intelligence. It describes itself as the first independent DRC-focused company listed in the United States. Its strategy centres on acquiring and advancing copper assets within the country.

Andrew Groves leads the management team. He is presented as the founder of several African mining ventures, including Camec, African Platinum and Central African Gold, all reportedly sold. Aldo Cesano also joins the team and cites 40 years of experience in mining and logistics development across the DRC, Zimbabwe and southern Africa.

Project Status and Technical Considerations

Copper Intelligence describes Butembo as a near-surface exploration target with a low strip ratio. The project lies about 50 kilometres from the Ugandan border, near the historic Kilembe mine, which holds verified reserves of roughly four million tonnes. The company reports copper samples grading up to 18% and highlights access to rail infrastructure.

At present, the project does not have a mineral resource estimate prepared under internationally recognised reporting standards. Nor has it declared a mineral reserve. The company has not outlined a detailed exploration programme, including drilling plans, timelines or capital requirements needed to assess the asset at scale.

Listing Butembo under a U.S.-traded structure may improve visibility and access to exploration funding. However, the OTC listing also exposes the company to disclosure requirements and investor scrutiny, even if regulatory standards are lighter than those of major exchanges.

“We are delighted to hold this status as a dedicated US company operating in Africa, aggregating assets in the DRC’s highest grade copper deposits in the world,” Copper Intelligence President Andrew Groves said.