GOLD 1281.11 $/ozChange: 2.07
PLATINUM 1422.00 $/ozChange: 6.50
R/$ exchange 10.69Change: 0.01
R/€ exchange 14.17Change: 0.04
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
Home
 
Breaking News
 
 
 
DRC copper mine likely to be open-pit, says Anvil
PRINT
 
 
Embed Code Close
content
 
13th April 2006
TEXT SIZE
Text Smaller Disabled Text Bigger
 
Toronto Stock Exchange- and Australian Stock Exchange-listed Anvil Mining has provided an update on its operations, which precedes the release of its March 2006 quarterly financial report which is expected to be issued on May 11.

At its 70% owned Kinsevere Project, its recently completed Scoping Study on the Kinsevere Project in the Democratic Republic of Congo (DRC) indicated that the preferred development option for Kinsevere is an open pit mining operation.

This should be combined with a Heavy Media Separation (HMS) plant producing an oxide copper concentrate that would be processed through an on-site custom-built electric arc furnace utilizing power from the local hydroelectric grid.

This processing route would produce “black copper” ingots assaying between 85%-95% copper. The HMS plant would subsequently be upgraded to a Solvent Extraction and Electrowinning (SX-EW) plant.

A feasibility study on the SX-EW upgrade will be completed during the second quarter of 2006, with a commitment to proceed with the SX-EW development expected to be made in the third quarter of 2006.

At the Kapulo Joint Venture, Anvil has entered into an agreement with Mawson West, an ASX listed company, for Mawson West to begin earning into Anvil's Kapulo Project tenements, which are located 130 km north east of the Company's Dikulushi Mine.

The agreement with Mawson West will enable an exploration program to be carried out much sooner than was contemplated by Anvil given its considerable evaluation and development commitments on the Kinsevere and Mutoshi projects in the main part of the DRC Copperbelt.

Mawson West can earn up to a 65% interest following the expenditure of $4-million over four years.

 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

FULL Access to Mining Weekly and Engineering News - Subscribe Now!
Subscribe Now Login