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Company Annoucements:Basil Read Mining Secures Tschudi Copper Project In Namibia

30th September 2013

By: Creamer Media Reporter

  

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Basil Read's Mining Division  (0.04 MB)

Basil Read’s Mining Division, a specialist open-pit contract mining service provider, has been awarded a R1.8 billion project by Weatherly International plc (WTI) to perform contract mining services for the Tschudi Copper Project (Tschudi). The project is located in Namibia, 37km west north-west of Tsumeb and about 70km south of the Etosha Pans.

This award follows the WTI’s letter of intent to Basil Read in October 2012 to perform the mining services subject to WTI securing the requisite funding for the 17 million tonnes a year of waste and copper bearing ore project.The R1.8 billion or (Namibian) N$1.8 billion contract consists of two phases: a ten-month start-up phase which will commence in March 2014 and the open-pit phase expected to last five years from December 2014 to December 2019. Although the initial contract period comprising the two phases is for five years, it has an extra two year extension option.Total waste to be removed by Basil Read Mining will be 38,3 million bank cubic metres (bcm) with 4,7 million bcm of ore.Basil Read Mining Managing Director, Antonie Fourie said, “We are extremely pleased to be awarded this contract by Weatherly International plc. Basil Read Mining has been active in Botswana and Namibia for some years and this contract will spearhead our activities and provide the impetus for us to capitalise on other opportunities in Africa.”

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Edited by Creamer Media Reporter

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