CAPE TOWN, Feb 2 (Reuters) - Anvil Mining (AVM.TO) said on Tuesday it plans to start producing 40,000 tonnes of copper at its Kinsevere mine in the Democratic Republic of Congo (DRC) next year before increasing output to 60,000 tonnes of copper in 2012.
Anvil vice president for corporate affairs Robert LaValliere said the company's two other smaller copper units, Dikulushi and Mutushi, which were placed under care and maintenance following the global financial crisis would remain suspended until Kinsevere reaches full operational capacity.
"Our intention is to produce 40,000 tonnes of copper cathode at Kinsevere next year and we will reach 60,000 tonnes in 2012. We will then look at expansion and if there will be more resources, then we will expand further," LaValliere told Reuters on the sidelines of a mining conference in Cape Town.
LaValliere said Anvil completed a $200 million financing arrangement for the Kinsevere project in 2009 and the mine project was now in an advanced stage of construction.
LaValliere said two other Anvil copper projects in the DRC had been placed on hold until Kinsevere reaches full operational capacity and that the company's plan was to finance the projects from proceeds to be earned from Kinsevere mine. (Reporting by Shapi Shacinda; Editing by James Macharia)
No comments:
Post a Comment