Welcome!

News Feed Item

Katanga Mining announces 2013 year end operational highlights, and outlook

ZUG, Switzerland, Feb. 10, 2014 /CNW/ - Katanga Mining Limited (TSX: KAT) ("Katanga" or the "Company") today announces 2013 year end production results.

Highlights during the year ended December 31, 2013, and Outlook

Mining

  • During 2013, the Company mined a record 6,243,163 tonnes of ore, a 13% increase over 2012, at a grade of 4.07% resulting in contained copper in ore mined of 254,070 tonnes, an 11% increase over 2012.
  • Ore mined at KOV Open Pit during 2013 was a record 4,394,098 tonnes, a 19% increase over 2012.  The average copper grade of ore mined from KOV Open Pit during 2013 was 4.37%, resulting in contained copper in ore mined of 191,887 tonnes, an 18% increase over 2012.
  • Waste mined at KOV Open Pit during 2013 was a record 31,644,013 tonnes, a 50% increase over 2012.
  • Ore mined at KTO Underground Mine during 2013 was 1,741,298 tonnes, a 5% decrease over 2012.  The average copper grade of ore mined from KTO Underground Mine during 2013 was 3.36%, resulting in contained copper in ore mined of 58,431 tonnes, a 12% decrease over 2012.  Lower mined volumes and grades are a result of near-term chamber availability issues.  Management expects mined volumes and grades to improve in 2014 due to the increased backfill tonnes achieved in 2013 and the acceleration of primary and secondary development.
  • Dewatering of T17 Open Pit was completed during 2013 and mining of T17 Open Pit Cut 3 and 4 recommenced.  81,011 tonnes of waste and 107,768 tonnes of ore were mined.  An average copper grade of 3.48% and an average cobalt grade of 0.72% were achieved. This will facilitate the start of infrastructure works related to the potential T17 underground mine.
  • In 2013, the Company commissioned:
    • Five new Caterpillar 793 trucks (240 tonnes load capacity);
    • Eight new Caterpillar 777 trucks (100 tonnes load capacity) improving operating costs as these trucks haul direct to the crusher, reducing handling and contractor costs;
    • Two large diesel Caterpillar shovels (30 tonnes and 60 tonnes bucket capacity);
    • The Company's third RH340 shovel (60 tonnes bucket capacity); and
    • Two 2MW generators dedicated to support the electric RH340 shovel and KOV dewatering activities reducing the dependence on grid power supply for KOV Open Pit mining activities.

Processing

  • Ore milled at KTC during 2013 was a record 5,600,716 tonnes, a 21% increase over 2012.
  • Copper produced for 2013 totalled a record 136,192 tonnes, a 47% increase over 2012.
  • Cobalt produced totalled 2,297 tonnes for 2013, an 8% increase over 2012.
  • At the end of December 2013 Katanga had installed annualised production capacity of 200,000 tonnes per annum ("tpa")

Projects

            The Updated Phase 4 Expansion Project commissioning highlights for 2013 include:

  • Trains two and three of the Solvent Extraction ("SX") plant increasing SX plant capacity to 200,000 tpa of copper transfer;
  • The converted electro-winning ("EW") facility with all sections brought into operation increasing the new tankhouse capacity to 200,000 tpa of copper cathode;
  • The new sulphide concentrate receiving section, floatation circuit, and the oxide receiving, leaching and CCD facilities at Luilu; and
  • Total expected project cost remains $769 million as previously announced.
  • The feasibility study for extending the T17 Open Pit mine into an underground mining operation was completed during 2013.  Management is continuing to advance the project with a view to making a decision to proceed to production.

Outlook

  • Construction has commenced on Phase 5, which includes EW3 (2 x 30,000 tpa capacity EW tankhouse units) and CM5 (mill of 11,700 tonnes per day nameplate capacity), and is expected to be completed during the fourth quarter of 2014.

This press release was prepared under the supervision of Tim Henderson, Technical Consultant, Katanga and a "qualified person" as such term is defined in NI 43-101. Mr. Henderson has reviewed and approved the contents of this press release.

About Katanga Mining Limited
Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.

Forward Looking Statements
This press release may contain forward-looking statements, including, but not limited to, the increase in mined volumes and grades of copper and cobalt , the potential for an underground mine at T17 Open Pit and the completion of the Phase 5 project. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include: there being no significant disruptions affecting the operations of the Company whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting and development, being consistent with the Company's current expectations; continued recognition of the Company's mining concessions and other assets, rights, titles and interests in the Democratic Republic of Congo ("DRC"); political and legal developments in the DRC being consistent with its current expectations; the continued provision or procurement of additional funding from Glencore Xstrata for the completion of the Phase 5 Project; prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with current levels; labour and material costs increasing on a basis consistent with the Company's current expectations; the increased backfill tonnes and the acceleration of primary and secondary development will provide access to higher grade zones at KTO Underground Mine, the successful resolution of the near-term underground chamber availability issues and all necessary equipment and parts will be delivered and installed on schedule for Phase 5.

Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the actual results of current exploration activities; actual results and interpretation of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of copper and cobalt; possible variations in ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, development or construction activities, delays due to strikes or other work stoppage, both internal and external to the Company, as well as those factors disclosed in the Company's current annual information form and other publicly filed documents. Although Katanga has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws.

 

SOURCE Katanga Mining Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?