Just listened to the Phelps Dodge presentation at the Morgan Stanley mining conference. It is looking better for the DRC when larger players are moving into the area. I wish we had this size reserve!
The company are talking to the DRC govt about developing the Tenke Fungurume deposit in the copper belt (55% P.D. and 45% Gecamines). It is a nice deposit at 547 mt at 3.5% copper and 0.3% Cobalt. If they proceed with the project, they should be producing 50,000 tonnes a year from the middle of 08. The company believed in starting small and building from that base towards 100,000 tonnes a year. Here is the link for more mine information.
http://www.tenke.com/i/pdf/TenkeFungurumeFactSheet.pdf#search='tenke%20fungurume'
phelps dodge enter drc
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