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ZCI - ZCI Limited - Production update for Mowana and Thakadu
ZCI Limited
(Bermudian registration number 661:1969)
(South African registration number 1970/000023/10)
JSE share code: ZCI ISIN: BMG9887P1068
Euronext share code: BMG9887P1068
("ZCI")
PRODUCTION UPDATE FOR MOWANA AND THAKADU
ZCI is pleased to report that its main operating asset, African Copper
Plc. ("ACU" or the "Company"), the AIM and Botswana listed copper
producer and exploration company, has provided the following production
update for its Mowana and Thakadu Mines for the first and second quarters
of the Company`s financial year.
Highlights
In terms of copper produced in concentrate, production for the first and
second quarters was 176 per cent and 53 per cent higher than the
respective quarters from last year (comparative production figures are
set out in the table below).
Copper produced in concentrate continued to progressively increase during
the second quarter with total production of 1,812 tonnes and record
production levels achieved in August.
Advances in production levels were achieved due to marked improvements in
maintenance strategies at the secondary and tertiary crushers, improved
production at Thakadu, higher availability of the mill and increasing
recoveries as mining moved from more oxidic areas to more supergene rich
areas at Mowana and Thakadu.
Continuing plant upgrades are in progress and are expected to be
completed by the year end.
Production
Combined production levels for the Company`s first and second financial
year quarters (ending 30 June 2011 and 30 September 2011 respectively)
are set out below, together with comparatives:
Q1 to Q1 to Q2 to Q2 to
end end end end 1H* 1H*
Description June June Sept Sept 2011 2010
2011 2010 2011 2010
Ore processed (Mt) 198,429 146,052 194,089 173,312 392,518 319,364
Cu grade (%) 1.74 1.22 1.87 1.24 1.80 1.23
Recovery (%) 48.5 34.1 50.0 55 49.2 45.6
Concentrate produced 8,075 2,641 7,637 5,274 15,712 7,915
(Mt)
Copper produced in 1,674 607 1,812 1,183 3,486 1,790
concentrate (Mt)
Payable copper sold 1,552 482 1,743 1,113 3,295 1,595
(Mt)
*Fiscal Year first half ended 30 September
In terms of copper produced in concentrate, production for the first and
second quarters was 176 per cent and 53 per cent higher than the
respective quarters from last year. Copper production continued to
increase during the second quarter. Total copper produced in concentrate
was 1,812 tonnes, with record production levels achieved in August. The
progressive improvements in production are attributable to a number of
factors including increased mining flexibility at Mowana and Thakadu,
increased ore delivery to the plant as a result of improved production at
Thakadu, successful maintenance strategies at the secondary and tertiary
crushers, higher availability of the mill and efficiency improvements at
the filtration plant. Daily throughput at the filtration plant has
increased from 80 tpd to between 160 and 200 tpd due to the following:
1. Improved feed density as a result of changes made to the
thickener underflow pumps;
2. Increased feed pressure as a result of enhanced feed valves:
3. Improved solid separation from better filter cloth aperture
size control; and
4. Instalment of new filter press plates.
Increased recoveries are anticipated over the next two quarters as mining
operations progressively move at Mowana from more oxidic areas to more
supergene rich areas and at Thakadu towards sulphide mineralisation.
A number of plant upgrades are currently in progress and are planned for
completion by the year end:
1. Installation of a new tertiary crusher is currently underway. A new
secondary crusher is planned for installation at the end of
November. These crushers are expected to increase operational
efficiency and increase throughput to the mill.
2. The installation of column flotation cells is currently underway and
is expected to remove impurities, specifically silica during
flotation, resulting in a cleaner higher grade concentrate.
3. Installation of a Larox filter is planned during December to
increase filtration efficiency, allowing higher throughput of
concentrate with a lower moisture content.
Commenting, Jordan Soko, Acting Chief Executive of African Copper Plc,
said, "I am happy to state that we have moved closer to achieving our
intended level of steady state copper production. These have been two
progressively strong quarters for the Company, which have seen
substantially increased production and numerous initiatives put in place
to ensure the long term improvement of our mining activities. I look
forward to informing the market of further updates in due course."
The technical information in this announcement has been reviewed and
approved by David De`Ath, BSc (Hons), MSc, GDE-Mining, MIMM and MAusIMM,
the Company`s Manager - Geology, of the Mowana Mine for the purposes of
the current Guidance Note for Mining, Oil and Gas Companies issued by the
London Stock Exchange in June 2009.
For further information please visit www.africancopper.com
Bermuda
15 November 2011
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 15/11/2011 09:00:08 Supplied by www.sharenet.co.za
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