Central African Mining & Exploration Company Plc: Production Update From the Democratic Republic of the Congo
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LONDON, April 3 /PRNewswire/ -- Central African Mining & Exploration Company Plc (AIM: CFM) ('CAMEC' or 'the Company'), the AIM listed fully integrated exploration, mining, trading and investment company, is pleased to announce the successful commissioning of the first module at the 50,000 sq metre Luita copper cobalt SX/EW plant facility in the Democratic Republic of the Congo ('DRC'). The first 10,000 tonnes per annum copper EW module is now operational and in March 2007 the plant produced 601 metric tonnes of copper cathode and 228 metric tonnes of cobalt in carbonate, providing a total turnover of US$13.6 million.
The second 10,000 tonnes per annum copper EW module is due to be commissioned in April. Further modules will come on stream during the year, allowing CAMEC to achieve its target to produce 40,000 tonnes of copper cathode and 6,000 tonnes of cobalt cathode and carbonate during the 2007-8 financial year.
CAMEC Chief Executive Officer, Andrew Groves, said, "We are extremely pleased to be working productively with our supportive partners Gecamines, the DRC's state controlled mining company, and producing finished copper and cobalt product within the country. We have invested approximately US$150 million over the last 12 months and are already reaping the benefits with an operational plant that has to date been constructed on budget within 9 months and is already producing metal and positive cash flow."
For further information please visit www.camec-plc.com |
