HomeBase MetalsAnvil recommences Kinsevere operation

Anvil recommences Kinsevere operation

The central pit at
Anvil’s Kinsevere
operation in the DRC
Montreal, Canada — MININGREVIEW.COM — 15 April 2009 – Anvil Mining Limited – the leading copper producer in the Democratic Republic of Congo (DRC) in central Africa – has recommenced operation of its Kinsevere heavy media separation processing plant, and shut down the nearby electric-arc furnace.

Announcing this in a news release issued here, the company also provided guidance for its 2009 production, operating costs and capital expenditure, .

The release revealed that the Kinsevere HMS plant had been restarted on March 27, 2009, and in the first 10 days of operation had produced approximately 1 645 tonnes of concentrate at an average grade of 26% copper, yielding 430 tonnes of copper in concentrate. Overall average copper recovery had been 57.3%.

The HMS plant was expected to produce approximately 8 900 tonnes of copper contained in concentrates through to Q3 2009, and also had existing stockpiles of copper concentrates at Kinsevere of approximately 16 700 tonnes grading 27% copper now ready for immediate sale.

The news release went on to say that, subject to favourable copper prices and metallurgical recoveries, additional feed was potentially available from the Stage II stockpiled ore, which currently amounted to more than one million tonnes at an average grade of 2.9% copper. Anvil was also considering the possibility of resuming open pit mining to supplement HMS plant feed into 2010.

Anvil president and CEO Bill Turner commented, “We are continuing to execute the cost cutting measures commenced during the fourth quarter of 2008 in response to the fall in metal prices and deterioration of financial markets. Operating costs have been reduced to a minimum in order to maximise cash flow.”

He went on to say that budgeted capital expenditure for 2009 had been reduced to the minimum necessary to sustain the operation of the Kinsevere HMS plant. All other capital expenditure programmes, including exploration, had been placed on hold for the remainder of 2009.

The capital expenditure required to complete the Kinsevere Stage II solvent extraction electro-winning plant was approximately US$200 million (R1.9 billion), and efforts to procure funding were ongoing.