Kipoi plant development progressing well, first output due mid-2014
JOHANNESBURG (miningweekly.com) – About 60% of the bulk earthworks at copper producer Tiger Resources’ Kipoi Stage 2 solvent extraction and electrowinning (SX-EW) plant development project, in the Democratic Republic of Congo (DRC), has been completed.
Construction on the SX-EW started on January 16 and was on schedule for first production of copper cathode in mid-2014.
The company said progress was being made with site works and civils, with a 70-man construction camp having been erected, and permanent site accommodation units nearing completion.
Civil works for the laydown area were completed and awaiting fencing, and the pad area for a 5 MVA electrical substation was complete.
Further, lump sum turnkey contracts had been executed with principal contractor Senet for the supply of the SX-EW plant, an agglomerator and a stacking conveyer system.
Additional fixed-price contracts had been executed for the accommodation facilities, power supply and reticulation and earthworks, and for the supply and installation of the heap leach pads.
Tiger said in a statement on Tuesday that the necessary documentation and approvals process for an $80-million Export Credit Insurance Corporation (ECIC) standby term loan facility were progressing well.
Site visits had been undertaken by the mandated arranging banks, Nedbank Capital and Rand Merchant Bank, and by the nominated independent technical expert.
Execution of the $30-million facility, which was to be made available by Nedbank Capital and Rand Merchant Bank in advance of the ECIC standby term facility, was advancing, with legal negotiations on the facility agreements currently in progress.
The facility remained subject to the lender’s credit committee approvals, with first drawdown immediately available after the satisfaction of customary conditions precedent.
Meanwhile, the Stage 1 heavy media separation plant at Kipoi continued to generate the cash flow required to meet the SX-EW capital expenditure, with March 2013 delivering a new monthly production record of 4 007 t of copper – 37% above nameplate capacity.
Production for the March 2013 quarter of 9 488 t of copper in concentrate exceeded guidance by 3%.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation