RSS UpdatesCompany Information for Anvil Mining Ltd
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 TSX.V; AVM
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Company Statement
Anvil Mining is the leading copper producer in the Democratic Republic of Congo (DRC) in central Africa, with a strong production profile, a proven development record and experienced management.
The Company currently produces a copper and silver concentrate from the high-grade Dikulushi mine and copper concentrates from the Mutoshi Stage I copper tailings retreatment operation and the new Kinsevere mine, which was commissioned mid-2007. In addition, the Company is currently expanding Kinsevere with the construction of a 60,000 tonnes of copper per annum SX-EX copper processing plant at an estimated capital expenditure of $380 million in order to undertake more downstream processing and add value to the Company's products.
Anvil is committed to improving shareholder returns through the responsible and profitable growth of its core copper business. It will accomplish this by optimizing copper production from its current pipeline of mines and projects through multiple expansion phases. The Company's medium-term objective is to become a mid-tier copper miner, producing in excess of 100,000 tonnes of copper per year, with a considerable proportion in the form of cathode copper. In 2007, Anvil employed approximately 2,550 people and had sales revenue of $263 million.
Current Operations
Operations
Dikulushi
The Dikulushi operation is forecast to produce 11,000 tonnes of copper and 950,000 ounces of silver in concentrates in 2008. The Company is currently carrying out a detailed review of stoping practices to determine the most appropriate mining method. A life-of-mine plan, incorporating a modifed approach to the underground mining method for Dikulushi is expected to be completed during the fourth quarter of 2008. A drilling program is scheduled for 2008 in order to evaluate the potential to find satellite deposits in the surrounding area of Dikulushi.
During the second quarter of 2008, the Company determined that the extraction of ore from the underground stopes and the rate of underground development at the Dikulushi Mine was not proceeding as well as was initially expected.
Mutoshi
Mutoshi is Anvil’s second copper mining and processing operation.The Mutoshi Stage I HMS operation is located in an area known as the Kolwezi Klippe, a major copper-cobalt district. The mining of the coarse reject tailings deposits, which require no waste stripping, drilling or blasting, started in late 2005.
Owing to the progressively lower metallurgical recovery from processing finer grained, lower grade material that is being encountered as mining progresses further downstream, the Company decided in August to suspend mining operations, pending the outcome of an investigation of alternative mining methods and ongoing study of the establishment of an SX-EW facility, both of which are expected to be completed by the end of 2008. The processing plant will continue to operate with existing stockpiled ore sufficient to provide feed for the remainder of 2008 and to achieve forecast 2008 production of 9,000 tonnes of copper.
Kinsevere
Kinsevere will be Anvil's most significant investment in central Africa - a major open pit mining operation, HMS processing plant, two electric-arc furnaces and a future 60,000 tonnes-per-annum solvent-extraction electro-winning plant.
Our future flagship, located near Lubumbashi, is a conventional open-pit copper oxide operation. The Stage I HMS plant was commissioned during the second quarter of 2007. The HMS plant throughput has already surpassed the design capacity, at a rate of 1,380 tonnes of ore per day. From June to December 2007, the plant produced 13,006 tonnes of copper from concentrates grading 27% copper. The concentrates are exported or sold to local smelters. With the commissioning of the two (2) electric-arc furnaces scheduled for Q2 2008, the mine will produce 90-95% "black copper" ingots.
The Kinsevere operation is forecast to produce 26,500 tonnes of copper in 2008, of which 10,000 tonnes will be produced in a form of "black copper". An intense drilling program is ongoing in mineralized areas in the vicinity of the three open pits and to date indicates strong potential for increasing resources in the copper oxide and sulphide zones.
The current focus for Exploration at Kinsevere is the extension of the oxide resource base as far as possible.
Exploration projects
Dikulushi (DRC)
The exploration group has worked on two key tasks to extend Dikulushi’s operating life and improve the value of the operation:
- accurate definition of deep reserves to support an underground mining operation, and
- identification of potential open pit satellite mines or new mining operations in the Dikulushi region.
Currently extension of the current resource base:
- Testing up and down plunge extensions of shoots within the orebody
- Testing for a new orebody in the current footwall
- Defining inferred resources to 500m below surface
Identification of new open-pittable resources, close to Dikulushi, to supplement high grade ore from the new underground operation:
- Drill testing all currently defined geochemical anomalies
- Following up new artisanal workings, and drill testing if warranted
- Defining new areas of interest from airborne geophysics, and
- following up with geochemical sampling, ground geophysics and drilling
Kinsevere (DRC)Kinsevere is set to become Anvil's biggest investment in the DRC. The project will include a major open cut mining operation, a heavy media separation plant, two (2) electric-arc furnaces and a 60,000 tonnes per year Solvent Extraction and Electrowinning ("SX-EW") copper facility.
In January 2007, the Company announced an updated Measured and Indicated Mineral Resource estimate for its Kinsevere project of 33.3 million tonnes of ore at an average grade of 3.68% for 1.2 million tonnes of contained copper.
Kolwezi (DRC)
The famous Kolwezi Klippe is one of the most productive regions of the African Copperbelt. Joint venture holdings of Anvil (80%) and Gécamines (20%) cover 29% of the Klippe which has traditionally produced more than 70% of the DRC copper mineral product. The area has extensive un-mined deposits with potential for the revival of a major industry.
Anvil has four key areas of interest: Mutoshi, Mutoshi Stage 1, Nioka-Kampese and Kamukonko.
The current priority target for Anvil’s exploration group is to identify 500,000 tonnes of open-pittable copper resource at Mutoshi to justify an SX-EW copper plant. In addition, the Kolwezi program is looking to define additional resources for the Mutoshi project to support the development of an SX-EW processing plant.
Further xploration interests are being raised in the Philippines and Zambia.
Geographical Spread
Congo (DRC)
Board of Directors and Key Management
| Board of Directors |
| John W. Sabine |
| Chairman, Independent Director |
| Mr William S. Turner |
| Director, President and Chief Executive Officer |
| Peter J. Bradford |
| Chairman of the Nomination, Compensation and Corporate Governance Committee and Independent Director |
| Thomas C. Dawson |
| Chairman of the Audit Committee, Independent Director |
| Ambassador Kenneth L. Brown |
| Chairman of the Corporate Responsibility and Sustainability Committee and Independent Director |
| Management |
| Mr Craig R. Munro |
| Senior Vice President Corporate and CFO |
| Dr Toby Bradbury |
| Vice President Operations DRC |
| Mr Mike O'Sullivan |
| Senior Vice President Strategy & Business Development |
| Mr Robert La Vallière |
| Vice President Investor Relations |
| Mr Jeff Knuckey |
| Vice President Human Resources |
| Mr Lui Evangelista |
| Financial Controller |
| Mr Stuart McKenzie |
Company AddressAustralian Office
|
Additional Address/Key ContactCanadian Office |
CapitalOutstanding at June 30, 2007 – 70.4 million
|
Annual General Meeting12 May | Year End31 December |
Nominated BrokersEuroz Securities Limited (Australia) |
Major Shareholders
| Colonial First Sate Wholesale Global Resources Fund | (9.0%) |
| Deans Knight Management | (5.5%) |
| ANZ Nominees | (3.2%) |
Related News
28/07/09 - Anvil Mining Begins To Open Up The Hatches It Battened Down At The End Of Last Year20/10/08 - Anvil Mining Flashes Red And Green At The Same Time As Grade And Production Balance Congolese Risk
02/01/08 - Anvil Hammers Out Top Profits In The Dark Heart Of Africa
Most Recent Statement
29/01/10 - Anvil Reports Updated Economic Analysis of Kinsevere Stage II13/08/09 - Change in substantial holding
13/08/09 - June Quarter Results
13/08/09 - Anvil Mining Reports Second Quarter 2009 Results
10/08/09 - Anvil and Trafigura Announce Strategic Alliance
20/07/09 - Anvil reaches agreement on Mutoshi