• Rome Resources raised £1.2 million ($1.6 million) to fund drilling in DR Congo.
• The company targets tin and copper discoveries near the Bisie mining area.
• The firm seeks strategic partnerships to unlock project value and scale operations.

UK-listed junior miner Rome Resources raised £1.2 million (about $1.6 million) from its shareholders to finance continued drilling on its two exploration licenses in the Democratic Republic of Congo. The company announced the fundraising on Monday, April 20.

The modest size of the raise reflects the company’s profile as a junior listed on London’s alternative investment market, which targets growth companies. However, the fundraising does not limit its ambitions in one of Africa’s most sought-after mining regions.

Rome Resources Plc emerged from a reverse takeover completed in July 2024. Pathfinder Minerals, a UK shell company, absorbed Rome Resources Ltd and its Congolese assets through this transaction.

The company operates in Walikale territory in North Kivu province. It holds two contiguous exploration licenses grouped under the Bisie North project, located a few kilometers from Alphamin Resources’ tin mine.

The company’s shareholder base reflects a strong local presence. Congolese firm Stanvic Mining SARL holds nearly 20% of the capital as the largest shareholder.

Stephane Mutombo Irung, director of Stanvic Mining, joined the board of Rome Resources. The company announced his appointment alongside plans to acquire additional stakes in the two projects.

His arrival coincides with the company’s efforts to deliver a maiden resource estimate in the DRC. Chairman Klaus Eckhof, who serves as non-executive chairman, previously contributed to the discovery of the Bisie tin deposit now operated by Alphamin.

Tin Market Dominated by Alphamin

Industrial tin production in the DRC remains highly concentrated. Alphamin Resources dominates the sector through its Bisie mine. The company accounted for 32,000 tonnes out of the 34,000 tonnes of tin concentrate exported by the country in 2025, according to Ministry of Mines data. Five other operators produced a combined 2,000 tonnes.

Alphamin’s Bisie mine produces about 20,000 tonnes of tin metal annually. This output represents roughly 7% of global mined supply.

The sector attracted investor attention in 2025. UAE-based International Resources Holding signed an agreement in June with U.S. private equity firm Denham Capital to acquire a 56% majority stake in Alphamin Resources.

Alphamin currently holds a market capitalization of 1.75 billion Canadian dollars (about $1.28 billion). By contrast, Rome Resources held a market value of £24.6 million ($33.2 million) as of April 21.

Rome Resources also targets copper, a key metal for the energy transition. The company has already intercepted significant grades on its two licenses.

The upcoming maiden resource estimate should provide further clarity on the project’s potential and support future development decisions.

Strategy and Partnership Outlook

The coming months will determine the direction of Rome Resources’ growth strategy. The company operates in an African mining sector where some juniors prioritize speculation over exploration progress.

Investors will monitor whether Rome Resources continues to fund drilling activity and deliver tangible results. Exploration success could attract interest from Chinese, European, and increasingly U.S. players capable of deploying hundreds of millions of dollars into Congolese mining assets.

The company stated that the resource estimate aims to “strengthen its position in discussions with potential strategic partners.” While the company has not disclosed partner identities, it linked management share bonuses to the conclusion of such partnerships, signaling a concrete objective.

A takeover or joint venture with an established mining group could therefore benefit Rome Resources’ early shareholders.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange J.A de Berry Quenum