Adastra Minerals
Encyclopedia
Adastra Minerals Inc was a London-based mining company with notable operations in central Africa (Angola
, Democratic Republic of Congo, and Zambia
), particularly in copper
, cobalt
and zinc
exploration. Adastra's properties and concessions were acquired in 2006 by First Quantum Minerals
for $245m in cash and stock, outpacing a counter-offer by Mwana Africa plc
.
Angola
Angola, officially the Republic of Angola , is a country in south-central Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city...
, Democratic Republic of Congo, and Zambia
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
), particularly in copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
, cobalt
Cobalt
Cobalt is a chemical element with symbol Co and atomic number 27. It is found naturally only in chemically combined form. The free element, produced by reductive smelting, is a hard, lustrous, silver-gray metal....
and zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
exploration. Adastra's properties and concessions were acquired in 2006 by First Quantum Minerals
First Quantum Minerals
First Quantum Minerals Ltd. is a Vancouver, British Columbia based mining and metals company whose principal activities include mineral exploration, development and mining....
for $245m in cash and stock, outpacing a counter-offer by Mwana Africa plc
Mwana Africa plc
Mwana Africa is a mining company based in Johannesburg and London. According to its website, it is the first African-owned and African-managed business to be listed in the Resources sector of the London Stock Exchange's Alternative Investment Market...
.
Notable personnel
- Jean-Raymond Boulle, founder; owned 10% stake at time of acquisition by First Quantum.