COPPER INTELLIGENCE TO FORM AN EARLY-STAGE EXPLORATION JOINT VENTURE WITH COTEC TO TARGET PROCESSING HISTORICAL COPPER TAILINGS OPPORTUNITIES IN THE DEMOCRATIC REPUBLIC OF CONGO

Copper Intelligence Inc. has signed a term sheet with CoTec Holdings Corp. to establish a joint venture aimed at processing historical copper tailings in the Democratic Republic of Congo (DRC). The deal, announced on May 6, 2026, involves an undisclosed investment amount and includes a third-party investment vehicle associated with CoTec's CEO Julian Treger and Chairman Lucio Genovese. The term sheet is non-binding, with specific terms to be detailed in forthcoming definitive agreements.

The joint venture will focus on leveraging the significant volumes of copper tailings produced by Gécamines, the state-owned mining company, during its industrial operations in the DRC since the 1950s. The Central African Copperbelt, where these tailings are located, is recognized as one of the richest copper and cobalt provinces globally. By targeting these historical deposits, the joint venture aims to unlock economic potential while addressing environmental concerns associated with legacy mining practices.

Copper Intelligence, formerly known as African Discovery Group, is notable for being the first stand-alone DRC company publicly traded in the United States. The company's strategic focus is on responsible resource development and community engagement in the regions where it operates. The partnership with CoTec, which has a proven track record in African mining ventures, is expected to enhance the operational capabilities and financial backing necessary for the successful execution of the joint venture's objectives.

The joint venture will also seek funding from the U.S. International Development Finance Corporation once it reaches sufficient scale. This potential funding avenue underscores the growing interest from international investors in the DRC's mining sector, particularly as demand for copper and cobalt continues to rise in response to the global transition towards renewable energy and electric vehicles.

Overall, this joint venture reflects a broader trend in the mining industry, where companies are increasingly looking to capitalize on historical resources while addressing sustainability and community impact. As the partnership progresses, it may set a precedent for future collaborations in the DRC and similar markets, potentially attracting further investment into the region's mining sector.