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:: Anvil to Build $238m DRC Copper Plant
Toronto and Australian Stock Exchange-listed copper and silver producer Anvil Mining, has announced the construction of a Stage II 60 000 t/y solvent extraction and electrowinning (SX-EW) copper facility at its Kinsevere project, located 27 km north of Lubumbashi, in the Democratic Republic of Congo (DRC).
The capital cost was estimated at $238-million, with a construction period of 24 months.
The DRC is clamping down on the export of unbeneficiated ore, with copper-rich Katanga province governor Moise Katumbi banning all unprocessed ore exporting from his province.
Anvil's Kinsevere stage I development, which comprised an openpit mining operation, the construction of a heavy media-separation (HMS) plant and an electric-arc furnace (EAF) was about 86% complete, with the HMS plant expected to be finished in May 2007, the company said on Monday.
It was expected that the HMS plant and the EAF would be superseded, in mid-2009, by the new 60 000 t/y stage II SXEW plant, with the production of LME Grade A quality copper cathode directly at the minesite.
“We are very pleased to be in a position to immediately start the process of calling for tenders for detailed design and construction from several experienced, reputable engineering companies and to quickly move the stage II development forward. We hope to commence construction work during the third quarter of 2007," the company said.
The Kinsevere feasibility study indicates a low-cash cost, openpit, copper mining and processing operation which is expected to generate robust returns using a conservative long-term copper price.
"Kinsevere will become our most important asset and cash flow generator for the foreseeable future," said CE Bill Turner.
It was expected that the 15 year life of mine would be increased, the company said in a statement.
Meanwhile, an environment-impact assessment and social impact assessment had been undertaken and was scheduled for submission to the DRC government during the third quarter.
During the development and construction of stage II over a two year period there would be a peak workforce of 1 500 and when the SX-EW plant became operational in mid-2009, it would employ some 750 permanent employees, mainly from the surrounding villages and from the city of Lubumbashi.
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