Name and Location
Tenke Fungurume Phase 2 expansion project, Democratic Republic of Congo.

Client
Freeport-McMoRan Copper & Gold (FCX – 70%) and Lundin Mining (30%).

Project Description
The Phase 2 expansion project targets the addition of about 68 000 t/y of copper cathode production. The project is expected to increase copper production by 50% to about 195 000 t of copper cathode and 15 000 t of cobalt in hydroxide.

The expansion will include additional mining equipment, mill upgrades, acid plant expansion and a doubling of existing tank-house capacity that will result in excess solvent extraction and electrowinning capacity of copper cathode production.

Value
$850-million.

Duration
The expansion project is expected to be completed in 2013.

Latest Developments
The FCX board has approved the undertaking of the second phase of the project.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
FCX investor relations director David Joint, tel +1 504 582 4203 or email ir@fmi.com or external communications director Eric Kinneberg, tel +1 602 366 7994 or email mr@fmi.com.
Lundin Mining, tel +1 416 342 5560, fax +1 416 348 0303 or email info@lundinmining.com.