Copper Intelligence, formerly African Discovery Group (OTC: AFDG), has finalized a definitive sales and purchase agreement for the Butembo Copper mining concession in eastern Democratic Republic of Congo, issuing shares to license holders and transferring ownership to its U.S.-domiciled entity. The transaction completes a reverse takeover that establishes Copper Intelligence as the first standalone DRC company publicly traded in the United States, timed with high-level U.S.-DRC strategic minerals discussions and amid projections of massive global copper supply deficits.
The company has executed the binding Sales and Purchase Agreement (SPA) for the Butembo Copper concession located in North Kivu province. Shares of the former African Discovery Group have been issued to the license holders, placing full ownership of the mining interest within the U.S.-domiciled Copper Intelligence entity and closing the reverse takeover (RTO).
Transaction Structure and Timeline The deal builds on a term sheet signed in late 2025, shareholder approval secured in mid-January 2026, and now culminates in the definitive SPA. The transaction involved the acquisition of 100% of SOCIETE GRABIN MINING SAS, the entity holding the Butembo exploration license. No cash consideration was exchanged at closing; the structure relied entirely on share issuance, aligning interests between the original license holders and the new public vehicle.
Butembo Copper Project Overview Butembo represents a near-surface, low-strip-ratio exploration opportunity in one of the world’s most prospective copper belts. Key attributes include:
Location : Approximately 40 km south of Beni in North Kivu province, 33–50 km west of the Ugandan border, in proximity to the Ruwenzori mountain range and Uganda’s historic Kilembe mine (4 million tonnes of verified copper reserves).
Infrastructure : Verified road and rail access to the port of Mombasa, enabling efficient export logistics.
Geology and Grades : Near-surface oxidized copper ore with preliminary assays reaching 18% Cu over an initial 500 m strike length along the Talehya River floodplain. Exploration pits indicate potential lateral and depth extension exceeding 5 km.
Exploration Status : Greenfield project with artisanal activity confirming high-grade oxide mineralization; systematic drilling and resource delineation planned under the new technical team.
| Project Metric | Details |
|---|---|
| Province | North Kivu, DRC |
| Distance to Ugandan border | 33–50 km |
| Nearest historic mine | Kilembe (Uganda, 4 Mt verified reserves) |
| Strike length tested | >500 m (artisanal pits) |
| Highest copper assay reported | 18% Cu (oxidized ore) |
| Infrastructure access | Road/rail to Mombasa port |
| Exploration upside | >5 km potential along strike |
Strategic Timing and Geopolitical Context The SPA was signed in parallel with a Strategic Minerals roundtable in Washington, D.C., coinciding with the launch of Project Vault under President Trump and the inaugural Critical Minerals Ministerial hosted by Secretary of State Marco Rubio. DRC President Felix Tshisekedi attended related discussions, underscoring bilateral focus on securing critical mineral supply chains. Copper’s inclusion on draft U.S. strategic minerals lists further highlights the transaction’s alignment with American efforts to diversify sources away from dominant producers.
Leadership Commentary Andrew Groves, Chairman of Copper Intelligence, emphasized the company’s positioning: “We are delighted to hold this status as a dedicated U.S. company operating in Africa, aggregating assets in the DRC’s highest-grade copper deposits in the world. The geology and DRC’s prospective superlative yields afford us the opportunity to create a unique and dedicated copper exploration company. The Technical Team will now drive shareholder value through a methodical exploration program, asset addition, and validation of results.”
Aldo Cesano, Director, added: “We believe Copper Intelligence will make a significant contribution to the people and communities of the DRC in which we work.”
Alan Kessler, Director and Founder, concluded: “We are confident Copper Intelligence holds the resources, timing and execution capability to embrace the global copper shortage and create shareholder value as a pioneering African company.”
Global Copper Market Backdrop Current COMEX copper futures trade near $5.85–$5.87 per pound (as of February 6, 2026), reflecting ongoing tightness. Multiple independent forecasts project structural deficits:
Annual shortfalls potentially exceeding 6 million tonnes by 2035 (Washington Post scenario).
Requirement for approximately 80 new major mines by 2030 to close the gap (UNCTAD).
Production expected to peak around 33 million tonnes in 2030 while demand rises toward 42 million tonnes by 2040 (S&P Global), creating deficits up to 10 million tonnes.
Electrification, data centers, renewable infrastructure, and defense spending are accelerating demand growth, with energy-transition sectors alone projected to add millions of tonnes annually.
Next Steps Copper Intelligence now holds a Tier-1 exploration platform in one of Africa’s premier copper districts. Management has indicated an immediate focus on systematic exploration, resource delineation, and potential asset aggregation to build scale. The U.S. listing provides direct access to American capital markets at a moment of heightened policy support for domestic supply-chain security in critical minerals.
Disclaimer This is a news report based on publicly announced corporate developments. It does not constitute investment advice, financial recommendation, or solicitation to buy or sell securities. Investors should conduct their own due diligence and consult professional advisors regarding any potential investment in Copper Intelligence or related securities.
