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.
[5] American Mineral Fields (AMF) was founded in 1995 to "develop diamond interests" in Brazil[4] by Mike McMurrough and Jean-Raymond Boulle.
[8] Adastra Minerals in 2004 contracted a "definitive feasibility study" on the DRC Kolwezi cobalt/copper tailings project to a joint venture of Murray & Roberts and GRD Minproc.
[11] In 2005, the World Bank subsidiary The International Finance Corporation was considering taking a ten percent stake in a project owned by Adastra Minerals.
At the time, Adastra was based in London, England and developing mineral assets in Central Africa, particularly mining operations in Zambia, Mauritania and Congo.