Montreal, Canada — MININGREVIEW.COM — 06 June 2008 – Anvil Mining – the leading copper producer in the Democratic Republic of Congo – is to spend US$550 million (almost R4.2 billion) on expansions and new mining operations to double its copper cathode output in the Democratic Republic of Congo (DRC) to 100 000 tonnes within three years.
Revealing this at a mining conference here, Anvil senior vice president and chief financial officer Craig Munro confirmed that copper production would rise to 100 000 tonnes in 2011 from around 47 000 tonnes this year, after the firm completes investments on new projects and expansions to existing copper projects.
Reuters quotes him as saying that the company is still awaiting negotiations with state mining group Gecamines as part of the current nationwide review of mining contracts in the DRC. “Anvil will engage with Gecamines to hammer out a deal as part of a wide-ranging review of the mining contracts with the government,” he assured
“There are a number of agreements that we have with Gecamines and we will soon be sitting down with them so that they can confirm them,” Munro said.
He went on to say that there were several challenges to the Anvil operations in the vast mineral-rich central African country, including a lack of infrastructure such as roads. But he remained upbeat about political risks in the DRC, where several civil wars have left the country’s economy in shambles.
He also revealed that more exploration was under way, and that prospects for new copper discoveries in the DRC were looking good.
Anvil operates the Dikulushi copper and silver mine, Kulu copper mine and is currently developing the Kinsevere copper mine. It employs a total of 2 550 workers.