AFR NuVenture Resources
AFR NuVenture Resources is a Canadian junior mining company formerly focused on copper and cobalt exploration and development in the Democratic Republic of the Congo.
Last updated August 26, 2026
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Overview
AFR NuVenture Resources is a Canadian junior mining company whose corporate history spans several names and exploration phases. The business was originally listed on 12 May 1980 as Alpine Exploration Corporation. During the 1990s, Alpine pursued mineral exploration in western and northern British Columbia and in Alaska, with gold as an important target. In 1997, it changed its name to Shiega Resources Corporation. Under the Shiega name, the company participated in a joint venture concerning the Nkroful gold project in Ghana and held an interest in a property in the Tintina Gold Belt northeast of Fairbanks, Alaska. It also negotiated a proposed merger with Swedish gold miner Aurex AB, although those discussions were abandoned in January 1999. The company adopted the name African Metals Corporation in January 2000, marking a shift in emphasis toward African base-metal assets. Its principal project became Luisha South in Katanga Province, in the Democratic Republic of the Congo. The company described Luisha South as a copper-and-cobalt opportunity and also reported an option to acquire an 80 percent interest in eight additional properties covering approximately 682 square kilometres. A permit to exploit Luisha South was issued in March 2006, and Chevalier Resources acquired a 57 percent interest in the project. African Metals subsequently announced a binding letter of intent in November 2009 to acquire Chevalier Resources, followed by further efforts to consolidate its interest in the Luisha Mining Enterprise. Project work intensified in 2011. African Metals published an initial estimate for the Luisha South stockpile in June, reporting inferred material of approximately 370,000 tonnes grading 1.0 percent copper and 0.5 percent cobalt. An updated estimate for the broader project, announced in August, described inferred resources of approximately 14.7 million tonnes grading 1.1 percent copper and 0.3 percent cobalt, equivalent to stated contained quantities of about 161,700 tonnes of copper and 44,100 tonnes of cobalt. In September, the company reported that a subsidiary had purchased a dense-media-separation plant and other equipment in preparation for mining, and it also announced the acquisition of an additional 33 percent interest in Luisha Mining Enterprise. In 2018, African Metals agreed to sell all of its assets in the Democratic Republic of the Congo, including mining rights and a dense-media-separation plant, to Excellen Minerals SARL and Simeon Tshisangama. This transaction marked the end of the company’s documented DRC-focused operating phase. In 2021, the company changed its name to AFR NuVenture Resources Inc. The available reference material does not establish a current operating portfolio, headquarters, website, ownership structure, or present corporate status. Accordingly, AFR NuVenture Resources is best described as a historically active Canadian junior mining company with a former focus on copper and cobalt exploration and development.
History
AFR NuVenture Resources traces its corporate history to Alpine Exploration Corporation, which was listed on 12 May 1980. Its early identity was that of a Canadian mineral-exploration company. In 1991, Alpine was prospecting for gold in west-central British Columbia. Four years later, it announced plans to allocate $250,000 to exploration of three properties in northern British Columbia and Alaska, reflecting the importance of gold exploration to its 1990s strategy. In November 1997, Alpine changed its name to Shiega Resources Corporation. Shiega maintained a diverse exploration portfolio. In 1998, it participated in a joint venture with SAMAX Gold Inc. involving the Nkroful gold project in Ghana and also held an interest in a property in the Tintina Gold Belt northeast of Fairbanks, Alaska. Shiega negotiated a possible merger with Aurex AB, a gold producer, but the proposed transaction was abandoned in January 1999. The company became African Metals Corporation in January 2000. This name change accompanied a strategic emphasis on African mineral assets, particularly the Luisha South concession in Katanga Province of the Democratic Republic of the Congo. African Metals also reported an option to obtain an 80 percent interest in eight additional properties covering roughly 682 square kilometres. Luisha South became the company’s central project. A permit to exploit the project was issued in March 2006, while Chevalier Resources acquired a 57 percent interest. In November 2009, African Metals announced a binding letter of intent to acquire Chevalier, a step intended to increase its control over the project. The company continued to consolidate and assess the asset over the following years. In June 2011, it published an inferred estimate for the Luisha South stockpile of approximately 370,000 tonnes grading 1.0 percent copper and 0.5 percent cobalt. In August, it announced an updated estimate for the project as a whole: approximately 14.7 million tonnes of inferred material grading 1.1 percent copper and 0.3 percent cobalt. The company stated that this represented about 161,700 tonnes of contained copper and 44,100 tonnes of contained cobalt. In September 2011, African Metals announced the acquisition of an additional 33 percent interest in Luisha Mining Enterprise. It also reported that a subsidiary had purchased a dense-media-separation plant and other equipment in preparation for mining. These actions indicated an effort to move beyond exploration toward physical processing and potential production, although the available material does not establish sustained commercial production. In 2018, African Metals agreed to sell all of its DRC assets to Excellen Minerals SARL and Simeon Tshisangama. The assets included mining rights and a dense-media-separation plant. The sale ended the company’s documented DRC asset position and represented a major change in its operating profile. In 2021, the company changed its name to AFR NuVenture Resources Inc. The available reference material provides no confirmed current asset portfolio, executive roster, headquarters, website, ownership details, or operating status after the name change.
- 2021
Name change to AFR NuVenture Resources
[1]The company changes its name to AFR NuVenture Resources Inc.
- 2018
Sale of DRC assets
[1]African Metals agrees to sell its DRC mining rights, processing plant, and other assets.
- 2011
Luisha South resource and equipment program
[1]African Metals reports stockpile and project-wide inferred estimates, acquires an additional project interest, and obtains dense-media-separation equipment.
- 2006
Luisha South exploitation permit
[1]An exploitation permit is issued for the Luisha South project in the DRC.
- 2000
Name change to African Metals Corporation
[1]Shiega Resources adopts the African Metals Corporation name and focuses increasingly on African mineral assets.
- 1997
Name change to Shiega Resources Corporation
[1]The company changes its corporate name from Alpine Exploration Corporation to Shiega Resources Corporation.
- 1991
Gold prospecting in British Columbia
[1]Alpine Exploration conducts gold prospecting in west-central British Columbia.
- 1980
Initial listing as Alpine Exploration Corporation
[1]The company is listed on 12 May 1980 under the Alpine Exploration Corporation name.
Products and positioning
A Canadian junior mining and mineral-exploration company historically positioned around early-stage and development-stage base-metal assets, particularly copper and cobalt projects in the Democratic Republic of the Congo.
Copper-cobalt mining project · 2006
Luisha South
Luisha South was the company’s principal historical asset in Katanga Province, Democratic Republic of the Congo. The project was associated with copper and cobalt mineralization and received an exploitation permit in March 2006. African Metals pursued ownership consolidation, resource estimation, and preparations for processing. Reported 2011 inferred estimates included both a stockpile and a larger project-wide estimate. The available material does not confirm sustained commercial production.
Gold exploration project · 1998
Nkroful gold project
The Nkroful gold project in Ghana was part of a joint venture involving Shiega Resources Corporation and SAMAX Gold Inc. It represents an earlier phase of the company’s exploration history, before the corporate focus shifted toward copper and cobalt assets in the Democratic Republic of the Congo.
Gold exploration property · 1998
Tintina Gold Belt property
Shiega Resources held an interest in a property in the Tintina Gold Belt northeast of Fairbanks, Alaska. The property formed part of the company’s North American gold-exploration portfolio during the late 1990s.
Brand decisions
2021
Corporate renaming as AFR NuVenture ResourcesStrategyBackground
The company had previously operated under the African Metals Corporation name.
Action taken
The company changed its name to AFR NuVenture Resources Inc.
Aftermath
The available material does not identify a new asset portfolio or operating strategy associated with the renamed company.
2018
Divestiture of Democratic Republic of the Congo assetsM&ABackground
African Metals held mining rights and processing infrastructure connected with its DRC operations.
Action taken
The company agreed to sell all of its DRC assets, including the mining rights and dense-media-separation plant, to Excellen Minerals SARL and Simeon Tshisangama.
Aftermath
The transaction ended the company’s documented DRC-focused asset position.
2009
Proposed acquisition of Chevalier ResourcesM&ABackground
Chevalier Resources held a 57 percent interest in the Luisha South project.
Action taken
African Metals announced a binding letter of intent to acquire Chevalier Resources.
Aftermath
The announcement was followed by further efforts to consolidate African Metals’ interest in the Luisha project.
1999
Abandonment of proposed Aurex AB mergerM&ABackground
Shiega Resources had been negotiating a merger with gold miner Aurex AB.
Action taken
The proposed transaction was dropped in January 1999.
Aftermath
The company continued under the Shiega name until its 2000 renaming as African Metals Corporation.
Sources1 sources
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