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Gold/Mining/Energy : Tenke Mining Corp (TNK)
TNK 62.04+1.9%Jan 21 3:59 PM EST
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To: Gunnar who wrote (140)3/1/1998 6:04:00 PM
From: Gunnar  Read Replies (1) of 486
 
FEBRUARY 27, 1998Independent Engineer Appointed for Tenke Mining Corp.'s
Project Finance
VANCOUVER, BRITISH COLUMBIA--Tenke Mining Corp. (the "Company") is
pleased to announce that Investec Bank Limited ("Investec") have
appointed the Independent Engineer who will review the Tenke
Fungurume project on behalf of the international banks expected to
form the project's banking consortium.
Investec are mandated to arrange a procurement debt facility of
US$170 million on a project finance basis on behalf of a
subsidiary of Tenke Mining Corp. for the Tenke Fungurume project.
Investec have advised Tenke Mining Corp. that as part of this
mandate, they have selected Micon International Limited ("Micon")
as Independent Engineer after evaluating submissions from leading
international mining consulting organizations.
Micon is an independent firm of geologists, mining engineers,
process engineers, environmental specialists and mineral
economists with extensive experience in review and evaluation of
mineral properties. They have completed numerous similar
exercises on behalf of lenders and equity providers. They are
based in Toronto with offices and representatives in the UK, USA and Australia.
Micon has already visited the site and has spent time in the
geological dataroom as part of carrying out an independent review
of the feasibility study being prepared on the Tenke Fungurume
copper-cobalt deposits in the Democratic Republic Of Congo.
BY ORDER OF THE BOARD "Philip J. Wright", President
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