CLA - FA Bagger Aspiring Cobalt developer. Huge landholding, B Borg, page-697

Other than you, who exactly is lumping Namibia in with the DRC as "Africa". Most people know Namibia is a much more stable country and a friendly mining jurisdiction. I have barely seen any sovereign risk complaints about CLA. I am not anti-DRC and I think their Co will continue to be bought as there simply isn't alternatives but I think it will also make companies like CLA who will form a more ethical part of the supply chain attractive to end users. It might not end up in higher prices but it should give BB some leverage when choosing offtake partners to gain a good deal.

As for ownership there are only two parties. CLA own 95% of the project and are the controlling party. The other 5% is owned by a Namibian company that apparently works with disadvantaged locals. As such like most of Africa that 5% will be more about giving back to the country and keeping the locals in the fold than any sort of decision making role. You may as well consider it 100% owned by CLA with a 5% NSR.