Asset report

Kalumines copper mine

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Report summary

The following notes consider a potential project to exploit the neighbouring Kasonta, Lupoto, Karu East and Niamumenda deposits by open pit mining and producing copper cathode by SxEw. Potential also exists for cobalt by-product production.

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    Kalumines copper mine

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Table of contents

  • Key facts
    • Summary
    • The following notes consider a potential project to exploit the neighbouring Kasonta, Lupoto, Karu East and Niamumenda deposits by open pit mining and producing copper cathode by SxEw. Potential also exists for cobalt by-product production.
    • Key issues
    • In 2007 and 2008 cash flow was generated by mining high-grade ore and producing concentrates by hand sorting. A ‘fine’ concentrate (containing ~ 15% Cu) was sold to Gecamines, whilst a ‘lumpy’ concentrate (~25% Cu) is processed at various local electric arc furnace (EAF) operations, including one operated by sister company Teal Metals. Mining and hand-sorting of high-grade ore was curtailed in 2009.
    • In July 2011, feasibility study was completed and submitted to shareholders for consideration. Initial assessment of feasibility study indicated that the project was marginal. Variability drilling and test work was done, but further areas of optimisation did not achieve project value enhancements. The mining permit was extended to January 2013. In mid-2013, ARM and Vale exited their respective share in the project for proceeds of $21 million.
  • Location maps
  • Participation
  • Geology
  • Reserves and resources
  • Timeline

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Tables

  • Key facts: Table 1
  • Reserves and resources: Table 1

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