African Copper Inks Mining Contract for Dukwe Copper

African Copper has signed a five-year contract with Moolman Mining Botswana, an operating group of Aveng Ltd., to conduct mining at its Dukwe project located 120 km northwest of Francistown, Botswana, in southern Africa.

According to the company, the contract includes both mobilization and demobilization of the mining fleet which at full strength will consist of three face-loading shovels and 26, 100-mtcapacity haul trucks. African Copper expected this fleet to mobilize over a six- to 10-month period beginning in July 2007, and to begin operating by August. Mining costs were estimated to be in the range of $1.80–$2.50/mt of material moved (both ore and waste rock) over the course of the five-year, renewable contract.

Currently, Moolmans has a fleet of six scrapers operating at the site to pre-strip the surface material. Through this pre-stripping process, African Copper anticipates the stockpiling of 180,000 to 210,000 mt of material prior to the commissioning of the 1- million mt/y concentrator, now under construction.