Click here to close now.




















Welcome!

News Feed Item

Fleurette Group: Mutanda Mining SARL First Half and Second Quarter Production Report

KINSHASA, Democratic Republic of Congo, August 13, 2014 /PRNewswire/ --

Fleurette Group is pleased to announce the second quarter 2014 operating results for Mutanda Mining SARL ("MUMI").

Highlights  

  • Q2 production of 51,500 tonnes
  • Total first half production of 98,600 tonnes
  • Mumi has now reached capacity production rate of 200,000 tonnes copper per year, reflecting $1.8 billion investment made by shareholders
  • Global Power Project, adding 450MW of electricity, including additional 50MW to National Power Grid, on track.

During the second quarter MUMI produced 51,500 tonnes of copper (Q1 2014: 47,100 tonnes) and 3,789 tonnes of cobalt (Q1 2014: 3,300 tonnes) respectively. This is an increase of 9% for copper and 14% for cobalt, compared to the first quarter of 2014. For Q2 2013, production of copper was 31,357 tonnes and cobalt production was 3,540 tonnes.

This brings total MUMI production for the first half to 98,600 tonnes of copper (up 61% from H1 2013) and 7,089 tonnes of cobalt (up 11% from H1 2013). For 2013, total production of copper was 150,600 tonnes and cobalt production was 13,700 tonnes.

MUMI comprises the Mutanda and Kansuki concessions in the Katanga province of the Democratic Republic of Congo which were merged in July 2013. MUMI is jointly owned by Glencore (69% ownership) and Fleurette (31% ownership). MUMI is managed by Glencore who also have a 100% offtake contract for all copper and cobalt production.

The substantial year-on-year increase in production of both copper and cobalt at MUMI is as a result of the completion of the Phase 4 project, increasing MUMI's production capacity to 200,000 tonnes of copper per annum.  

Fleurette has invested a total of $420 million in acquiring and developing the asset in partnership with Glencore. This has driven production from 100,000 to the current run rate of 200,000 tonnes of copper per annum. The total investment in Mumi now stands at $1.8 billion, which includes the investment program for the rehabilitation and installation of 450MW of additional power (the Global Power Project), of which it is currently estimated that 50MW will be made available to SNEL for distribution onto the National Power Grid, powering homes and local businesses. Mutanda employs over 3,000 Congolese with plans to recruit more as the project continues to expand.

Dan Gertler, Senior Advisor to Fleurette Group commented:

"The success of MUMI shows the importance of foreign investment into the DRC's mining sector. Together with our partners we have invested $1.8 billion into the asset and achieved strong production growth, which has considerable benefits for the DRC in terms of increased royalties, taxes, employment and other social investment. This is the kind of investment the DRC needs to continue to lift itself out of poverty as it recovers from years of conflict."

Fleurette is pleased to advise that MUMI has financed several community projects in the surrounding Katanga province. The Kisnagani and Pweto hospitals (total investment $9.2 million) which provides five state of the art operating theatres and a total of 177 beds, as well as a number of other vital treatment facilities. MUMI has also made significant investments in local infrastructure including the construction of a second bridge over the Lualaba river ($5 million) and investment in the Kolwezi airstrip. Meanwhile MUMI continues to support local agriculture and education projects, including the refurbishment of the Mwongo school and establishment of an 8 hectare vegetable farm at Kando.

About Fleurette Group 

The Fleurette Group of Companies ("Fleurette") is a Dutch entrepreneurial business with significant investment in diverse sectors, including natural resources, infrastructure, agriculture and technology. Fleurette has substantial investments and operations in the Democratic Republic of Congo (DRC).  The parent company of the group, Fleurette Properties Limited, a Dutch resident company, is owned by Line Trust Corporation Limited strictly and solely as trustees of the Ashdale Settlement, a trust established in 2006 for the benefit of the family of Dan Gertler. Mr Gertler is a citizen and resident of Israel and the DRC (and honorary counsel to the DRC) and is committed to developing the country's natural resources and infrastructure, while investing in the Congolese people and their communities.

Fleurette has a proven track record of successful co-operation with diverse parties, including the DRC State-owned mining company Gécamines, and to date has brought more than USD $7 billion of investment into the DRC, on top of its USD $2 billion in private investment. As a result, Fleurette's subsidiaries and partnerships support around 30,000 jobs in the DRC and are amongst the DRC's leading taxpayers, contributing significant revenues to the State.

Fleurette is also a major contributor to social development in the DRC through the Gertler Family Foundation (GFF) and through direct investment in social infrastructure. The GFF is the largest charitable organization in the DRC, funding more than 50 programs and projects across the DRC, which help tens of thousands of Congolese every year.  These include rebuilding key hospitals, notably the Kisangini "Hospital du Cinquantenaire"; supporting the Operation Smile campaign in Lubumbashi and Kinshasa; rebuilding Blaise Pascal School in Lubumbashi; and supporting the Lubumbashi Zoo.

Food security is a critical issue for the DRC and in Kinshasa, Fleurette is developing 1,482 acres of land into the Kitoko Food Farm in partnership with local and international organizations. The farm is expected to employ 400 people and is expected to produce more than 4,500 tons of carrots, tomatoes, onions, potatoes and other vegetables in 2014.

Further Information: Peter Ogden/Andy Donald, Maitland, +44-20-7379-5151

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
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...