Kinsevere expansion project, Democratic Republic of Congo
Name of the Project
Kinsevere expansion project.
Location
Haut-Katanga province, in the Democratic Republic of Congo,
Project Owner/s
MMG.
Project Description
The project will mine and process the copper sulphide and cobalt resource at the Kinsevere mine. This includes the installation of new facilities and associated processing methodology involving a flotation plant, roaster system and cobalt processing circuit, into which the existing solvent-extraction electrowinning plant will be integrated.
The project will extend the life of the Kinsevere operation by at least 13 years from 2022 and, once fully ramped up, will result in total production of up to 80 000 t/y of copper cathode and between 4 000 t/y and 6 000 t/y of cobalt in cobalt hydroxide.
Kinsevere will continue to produce copper cathode from the remaining oxide orebody during the construction phase, with copper production expected to remain at about 50 000 t/y during this time.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
Total capital expenditure for the project is estimated at between $550-million and $600-million, and will be funded through a combination of available cash reserves and debt facilities.
Planned Start/End Date
Construction will start in 2022, with first cobalt production expected in 2023. First copper cathode production from the sulphide orebody is expected in 2024.
Latest Developments
MMG approved the development of the Kinsevere expansion project, March 2022.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
MMG, tel +61 3 9288 0888 or email investorrelations@mmg.com, or CorporateAffairs@mmg.com.
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