Company Information for Nikanor Plc

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Company Statement

Nikanor is a mining group with assets in the heart of the African copperbelt in the Democratic Republic of Congo.

The group's key mine is KOV, containing one of the world's largest high quality copper and cobalt ore bodies. Nikanor is rehabilitating this proven brownfield site and simultaneously building a major state of the art refinery. The group is also examining a number of exploration, expansion and growth opportunities.

Nikanor was admitted to the London Stock Exchange's AIM market on July 17, 2006, raising $434m in equity.

Current Operations

KOV
KOV, consisting of the Kamoto East, Oliveira, Virgule and FNSR orebodies, represents the principal brownfield rehabilitation project for the Group. The Kamoto East and Virgule orebodies were historically mined by Gécamines through the adjacent Kamoto East and KOV open pits, respectively. The two mines were flagship Gécamines operations from 1960 until production ceased in 2000 and formed an important part of the DRC’s total copper output. In total, approximately 38Mt of ore in aggregate was mined at the Kamoto East and KOV pits, at estimated average grades of 5.78% for copper and 0.51% for cobalt, demonstrating the consistency of the mineralised occurrences. Gécamines’ production at KOV ceased in 2000 due to a lack of re-investment.

Tilwezembe
Tilwezembe is an existing open pit mine that has been mined intermittently by Gécamines since 1999. Organised mining by Gécamines has ceased in the pit and has been replaced by predominantly artisanal mining within the existing open pit and along a portion of strike. The existing open pit is located at the western extremity of the orebody. Ore mined by Gécamines at Tilwezembe was processed at the Kolwezi Concentrator, and Gécamines historically sent resulting oxide concentrate from the Kolwezi Concentrator for leaching and refining to existing refineries owned by Gécamines, including the Shituru Refinery, to produce “B” grade copper cathode as well as cobalt metal. Tilwezembe is situated 30km south east of Kolwezi.

Kananga
Kananga consists of an existing open pit mine that has been mined intermittently by Gécamines since 2004. The orebody is believed to extend over a horizontal strike length of approximately 6km that has not yet been delineated. The existing open pit is located at the western extremity of the orebody, 5km north of Kolwezi and within 20 metres of the Lubumbashi - Lobito railway line. Ore mined by Gécamines at Kananga was historically processed at the Kolwezi Concentrator, and Gécamines sent resulting oxide concentrate from the Kolwezi Concentrator for leaching and refining to the Gécamines Refineries, including the Shituru Refinery to produce “B” grade copper cathode as well as cobalt metal.

Geographical Spread

Democratic Republic of Congo

Board of Directors and Key Management

Jonathan Leslie	Executive Chairman
James Gorman	Managing Director
Peter Sydney-Smith	Finance Director
The Earl of Balfour	Non Executive Director
Dan Kurtzer	Independent Non Executive
Terry Robinson	Independent Non Executive
Jay Pomrenze	Non Executive
Dr Eric Lilford	Non Executive

Company Address 15-19 Athol Street Douglas, Isle of Man, United Kingdom IM1 1LB Telephone: +44 (0) 1624 610900 Website: http://www.nikanor.co.uk

Additional Address/Key Contact Nikanor Services (UK) Limited 50 Albemarle Street London W1S 4BD Tel: +44 (0)20 7529 5800 Fax: +44 (0) 20 7499 8562 Email: info@nikanor.co.uk

Capital Total shares in the market - 139.85m.

Annual General Meeting TBC

Year End 31st December

Nominated Brokers JP Morgan Cazenove

Nominated Advisors JP Morgan Cazenove

Major Shareholders

Oakley	35.8%
Pitchley	21.5%
New Horizon	14.3%

Related News

28/06/07 - The Rises And Falls Of Nikanor

Most Recent Statement

03/12/07 - NIKANOR TEMPORARY PRODUCTION OUTAGE
06/11/07 - Recommended Merger of Katanga and Nikanor to Create a Leading African Copper and Cobalt Company
01/10/07 - Nikanor announces project financing mandate
12/09/07 - Results announcement for the Six months ended 30 June 2007
23/07/07 - NIKANOR PLACES $130 MILLION MINE FLEET ORDER
27/06/07 - Annual General Meeting