ANVIL MINING LIMITED - ASX: AVM

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Anvil Mining operates in the Democratic Republic of Congo (DRC) in Central Africa. The Company has significant mine development and operating experience in the DRC. In 2010, the Company produced 16,538 tonnes of copper in concentrate form from its Kinsevere Stage I HMS plant.

The major focus of the Company is to complete the development and the construction of Kinsevere Stage II, a 60,000tpa of LME-grade copper cathode project, in which Anvil Mining has a 95% indirect interest.

Kinsevere

Kinsevere represents Anvil's most significant investment in the DRC to date. The current HMS processing operation produces more than 16,000 tonnes of copper contained in concentrate per year, however the main focus is on completing construction of the $400 million Kinsevere Stage II SX-EW plant that is expected to produce 60,000tpa of copper cathodes.

Exploration - Democratic Republic of Congo

The DRC has been Anvil’s key focus for exploration which has resulted in the discovery and definition of significant copper resources in what is the world renowned Congo Copperbelt. Past drilling programs have succeeded in discovering high copper grade oxide and sulphide deposits at Kinsevere and interesting copper-cobalt drilling results on the Mutoshi property.

With the Group's focus on the completion of Kinsevere Stage II and achieving a low-cost operation of the Stage I Heavy Media Separation ("HMS") plant at Kinsevere, there has not been available capacity to carry out exploration. During 2011, the Group plans to restart exploration, targeting the following areas:

* Identification of opportunities in close proximity to Kinsevere, which is currently the immediate priority of the Manager of Exploration and an expatriate exploration geologist, both of whom were recruited during the fourth quarter of 2010.

* Further drilling at Kinsevere in order to delineate an expanded sulphide resource. Results from previous drilling at Kinsevere identified the following sulphide resource:
o A measured and Indicated Resource of 3.76 million tonnes with a total copper grade of 3.70% for approximately 139,000 tonnes of contained copper; and
o An Inferred sulphide resource of 12.6 million tonnes with a total copper grade of 3.54% for approximately 447,000 tonnes of contained copper.

* Prior to being placed on care and maintenance, a 55,000 metre drilling program was completed at Mutoshi and the Group plans to start an in-fill drilling program later in 2011, the objective of which is to define sufficient near-surface oxide copper and cobalt mineralization to enable evaluation of development options.

Mutoshi Project

The Mutoshi Project is an exploration and mining joint venture between Anvil (70%), and Gécamines, the DRC state-owned mining company (30%). The project is being operated through a special purpose joint venture company, Société Minière de Kolwezi sprl ("SMK"). The 47.6 km PE 2604 ("Mutoshi") lease and 57.8 km. PER 2812 ("Kulumaziba”) lease cover the deposits.

The Mutoshi Project Stage I HMS operation was developed in 2005 to process coarse reject tailings in the Kulumaziba Valley near the Mutoshi open pit in the Kolwezi region. Copper concentrates produced in 2008 were trucked and sold to a smelter in Kolwezi 10 kilometres from the mine. Concentrate was also exported to Zambia and to South Africa for shipment offshore.

Mine For

copper

Location of operation(s)

Democratic Republic of Congo

Address

Level 1, 76 Hasler Road, Herdsman Business Park
OSBORNE PARK, WA, AUSTRALIA

Phone

(08) 9481 4700

Email

Website

http://www.anvilmining.com

Last Updated

26/04/2011