In recent years the rapid development of renewable energy technology and the electric vehicle industry has created a huge global demand for copper and cobalt mineral resources. With abundant reserves of copper and cobalt resources, the Democratic Republic of Congo (“DRC”) has become a center of the world's mineral resources supply. On the eve of capacity explosion of copper and cobalt production in DRC, especially the many large-scale mines owned by Chinese-funded mining companies, it has become an urgent need for DRC government and the mining stakeholders in the country to open a safer and more efficient logistics channel to reduce transportation time and logistics costs.
Taking the DRC as its African region business center, Frontier Services Group (“FSG”) is determined to seize the historical opportunity and build a westbound logistics channel in central Africa that connects the DRC mining area in Kolwezi and the port of Lobito in Angola. The road-rail-sea intermodal could achieve a safer, more economical and efficient transportation of DRC mineral products and related materials, which provides assurance to international mining developers and investors, bringing win-win benefits to all parties.
In January 2021, FSG signed a logistics cooperation agreement with CNMC New Bridge Logistics & Trading (“CNMC New Bridge”) on the DRC-Angola logistics channel and will give priority to providing comprehensive services including security, logistics and insurance. The two parties will leverage their rich experience and good relationship in the DRC and Angola to fully guarantee the safe operation, smooth flow and stable freight of the channel. Mutual benefit could be achieved with the close cooperation between the two parties for the smooth operation of the logistics channel.