first quantum minerals FM on TSE Message Board

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Gold/Mining/Energy : first quantum minerals FM on TSE

FM 27.19

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Jan 8 3:00 PM EDT

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To: Stephen O who wrote (339)	3/10/2002 11:35:35 AM
From: Stephen O	Read Replies (1) of 385

First Quantum plans more sulphide ore exploration By Business Reporter FIRST Quantum is planning more exploration drilling to determine the extent of sulphide ores at the Lonshi mine in the Democratic Republic of the Congo (DRC) whose initial development involved $3 million. Bwana Mkubwa Mining Limited (BMML) general manager Sean Whittome says the development of Lonshi mine had helped cement the aspirations of Bwana Mkubwa whose life is said to have been only 24 months as of mid-2001. Mr Whittome is quoted in the latest Mining Magazine saying there were further plans to explore sulphide ores at Lonshi and ascertain the feasibility of building a concentrator. “Lonshi has been an extremely “fast track’ development. The authorities in both Zambia and DRC have been very cooperative in the development of Lonshi. The latter is very keen to see this project go through,” Mr Whittome said. The Lonshi mine development described as the world’s first working cross-border operation where ore mined in one country is processed in another comprises the extraction of ore from Lonshi, transportation to Bwana Mkubwa plant and processing there. The arrangement is second after Chile/Argentina Barrick Gold’s Pascua-Lama project where production is yet to begin. Production from the oxide ores, processed at Bwana Mkubwa SX-EW plant is expected to be about 25,000 tonnes of copper per year in addition to the 10,000 tonnes yielded from tailings. If sulphide ores are viable the out put could rise to 50,000 tonnes a year. Mr Whittome explained that the Bwana Mkubwa plant had been upgraded to treat Lonshi ore with the installation of a crusher, 5,000 tonne stockpile , a SAG mill and filter system at a cost of $4 million. This gives the plant capacity to produce up to 35,000 tonnes of copper per year. Mr Whittmore said the additional capacity could be used to treat other resources such as low grade dumps. This story is from the Times of Zambia

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