Wrap Text
Production Update
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
Production report for the fourth quarter and full year fiscal 2013
ZCI is pleased to report that it’s principal subsidiary African Copper Plc (“African Copper” or the
“Company”), announces production of 2,429 Mt of copper in concentrate for the fourth quarter of fiscal
2013 from its 100% owned mines in Botswana.
African Copper issued the following statement:
Fourth Quarter and Full Year Production Highlights
• Ore processed in Q4 of 164,588 Mt; a 7.4% decrease over prior year's Q4 but increased copper
recovery of 88.2% (Q4 FY2012: 45.8%) resulted in copper produced in concentrate of 2,429 Mt; a
45.2% increase over prior year's Q4.
• Full year FY 2013 ore processed increased by 8.5% to 801,901 Mt despite 15 day shut down in Q1.
• Full year FY 2013 copper recovery increased to 66.5% from 48.4% in the prior year.
• Full year FY2013 copper produced in concentrate increased by 37.5% to 9,496 Mt
All of the ore processed at the Mowana facilities during FY 2013 was sourced from the higher grade sulphide
ore rich Thakadu Mine. Ore processed in the fourth quarter was lower than the third and second
quarters as a result of lower ore production following a change in mining contractors which was
highlighted during the third quarter results announced on 24 January 2013. During March, ore
production improved, and mining took place in the wider, higher grade eastern part of the Thakadu
orebody as reflected by the March copper grade. Copper recovery at the plant has continued to
benefit from the increasing proportion of sulphide ore, particularly during March 2013 when a new
production record of 1,314 tons of copper in concentrate was achieved. In the three months reported
below, the proportion of sulphide ore processed increased to 80% of the total from 54% in Q3 and
56% in Q2. Trucking operations from Thakadu to the Mowana Mine processing facilities, a distance of 70km,
ran to plan throughout the quarter and FY 2013
Production levels for the three months ended 31 March 2013 are set out below:
Description January February March Total Q4 Total Q3 Total Q2
2013 2013 2013 2012/ 2012/ 2012/
2013 2013 2013
Ore processed (Mt) 41,180 52,933 70,475 164,588 215,383 250,023
Cu grade (%) 1.50 1.27 2.08 1.67 1.71 1.82
Recovery (%) 87.2 85.7 89.7 88.2 69.8 63.4
Concentrate produced (Mt) 2,633 2,826 5,899 11,358 11,829 13,967
Copper produced in concentrate (Mt) 540 575 1,314 2,429 2,577 2,882
Totals for the fiscal year ended 31 March 2013 in comparison with prior years are presented as
follows:
Description FY2012/13* FY 2011/12 FY 2010/11
Ore processed (Mt) 801,901 738,921 632,981
Cu grade (%) 1.78 1.93 1.37
Recovery (%) 66.5 48.4 47.7
Concentrate produced (Mt) 44,041 31,027 18,778
Copper produced in concentrate (Mt) 9,496 6,910 4,143
* Production during the first quarter ended 30 June 2012 was adversely affected by the failure of the mill pinion
shaft which caused production to be shut down for 15 days.
During December 2012 the mining contractor at Thakadu gave notice of termination of contract,
exiting from the mine during January 2013. There was a resultant drop in ore mined during December
2012 and into January 2013. A new mining contractor was engaged during February and ore
production ramped up during February approaching more normal levels during March 2013.
Post the period end, April has seen some production issues around the performance of the mill, which has
been subject to some vibrations following a production halt for three days for mill relining. Accordingly, April
production was 556 Mt of copper in concentrate. We have identified the source of the vibrations and as a
result have ordered new mill gear mechanisms which are expected to be available for installation in
September 2013 with resultant necessary mill downtime.
Exploration drilling has continued during the fourth quarter in the greater Nakalakwana area targeting Iron
Oxide Copper Gold mineralisation within the Matsitama Exploration Licence PL 17/2004; and in the near
vicinity of Thakadu Mine to find additional mineable resources.
Mr Jordan Soko, Acting Chief Executive of African Copper, said, “We achieved record copper production from
the Mowana facilities in our fiscal year to end March 2013. I am pleased to be able to report to shareholders
that our team’s hard work on improving operations is at last paying off and that our Mowana and Thakadu
assets are beginning to demonstrate the long life and quality that we believed them to posess.”
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.
Bermuda
10 May 2013
Sponsor: Bridge Capital Advisors (Proprietary) Limited
Date: 10/05/2013 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
