Tenke Fungurume Copper-Cobalt Mine/Project

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Tenke Fungurume, Democratic Republic of the Congo (DRC)

Location: About 110 miles northwest of Lubumbashi in the Katanga Province of the Democratic Republic of the Congo.

Ores: Copper/Cobalt

Production: Construction activities on the approximately $2 billion initial development project at Tenke Fungurume are complete, and production of copper and cobalt has commenced. Production of copper cathode commenced in March 2009 and achieved targeted rates in September 2009. The cobalt plant and sulphuric acid plant were commissioned in the third quarter of 2009. Based on the 10-year average of current design operations, Tenke Fungurume expects to produce 250 million pounds of copper and 18 million pounds of cobalt per year. Higher grades of cobalt in the initial years are expected to result in higher than life-of-mine average annual cobalt production volumes.

Ownership*: Freeport-McMoRan, 56%; Lundin Mining Corp., 24%; and Gecamines, 20%.

Reference for information:
www.fcx.com/operations/AfricaTenke.htm

www.lundinmining.com/s/TenkeFungurume.asp