Anvil eyeing further growth Kristie Batten Friday, 2 September 2011 Source: Miningnews.net
AS the Kinsevere stage II project continues to ramp up, copper producer Anvil Mining is already plotting a further expansion.
The Kinsevere copper operation
Anvil chief financial officer and vice-president corporate Philippe Monier took to the podium at the Africa Downunder conference today in place of president and chief executive Darryll Castle, who was unable to make the trip across the Pacific to Perth for medical reasons.
He described Anvil?s flagship Kinsevere copper project in the Democratic Republic of the Congo as a ?company maker?.
The stage II solvent extraction-electrowinning plant is still in the commissioning phase, but commercial production is expected to be declared in the December quarter.
Production for 2011 is expected to be 36,000-38,000 tonnes of copper cathode.
Monier says the project has a current mine life of 13-14 years at a production rate of 60,000t per annum
The company is investigating an expansion to 80,000-90,000tpa of copper cathode.
Various options have been analysed and initial cost estimates completed.
Monier says a final investment decision will be made in the December quarter, but the board has already approved the order of long-lead items.
Anvil has a renewed focus on exploration after reinstating its exploration team in January.
Exploration spend for this year is expected to be around $US10 million ($A9.3 million).
Monier said one of the things the company liked about the DRC was that it was highly underexplored.
He added that the once-troubled country had reached a turning point and incredible momentum was building in the young democracy.
?It?s a challenging environment, but improving,? he said.
According to Monier, new infrastructure is emerging and the government is actively seeking investment.
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