Modern Mining January 2018

TIN

last had a major security issue at the site. “We have excellent security on the mine, including a contingent of Congolese mine police, and we enjoy the full backing of the national and provincial authorities. We’ve also set up an extremely efficient intelligence network designed to give us early warning of any incursions into our area. We don’t down- play security concerns but we believe they are manageable and unlikely – though there are obviously no guarantees – to pose a real threat to the project. North Kivu now is very different from what it was 10 years ago – the narrative that it is unstable is very outdated.” Modern Mining recently visited Bisie as part of a small media contingent and can confirm that the area appeared totally peaceful. Since that visit, there has been one major security incident in North Kivu involving an attack on UN peacekeepers but that was much further to the north-east in the province and has had absolutely zero impact on activities at Bisie. Certainly, Alphamin’s contention that North Kivu is open for business has received sup- port from the investment community. The company recently secured a US$80 million credit facility for the construction of the mine from a syndicate of lenders – comprising its major shareholder, Tremont Holdings, as well as Sprott Private Resource Lending and Barak Fund SPC – which has taken it within striking distance of meeting all its funding requirements for the project. As this article was being writ- ten, the balance of funding required was in the process of being raised via share placements in Johannesburg and Toronto. To develop Bisie, Kamstra has put together a team which he believes is one of the best ever assembled to build a mine in Africa. Its members include Trevor Faber, Alphamin’s COO, who is mainly based on site, and Richard Robinson, the MD of Alphamin’s in-country

who have seen for themselves the Walikale area – which is already negotiable by 4WD vehicles and which is undergoing further improvement. Says Kamstra: “With the access road in place the worst of our problems are behind us. Previously, the only way in to Bisie was on foot or by helicopter. We can now get vehicles through to the mine site from centres such as Johannesburg or the ports of Dar es Salaam and Mombasa within a reasonable timeframe. There are still issues with the condition of the main road between Goma and Walikale but attention is being given to this – by ourselves and other parties – and there are, in any event, alternative, though longer, routes that can be used. Overall, we’re confident that we have mastered – and correctly costed in – the logistics of the project.” On the second point, the perceived insta- bility of North Kivu Province, Kamstra is equally confident. “There was a time when our part of North Kivu was unstable but this was largely a result of artisanal mining at Bisie which attracted the attention of various militia groups,” he says. “But the artisanal miners are now largely gone – for a variety of reasons – and it’s been several years since we

Above: Articulated dump trucks and a roller seen on the access road leading to Bisie. Centre: Inside the Bisie mine showing the main drive which will access the orebody.

Trevor Faber (left) with Boris Kamstra, Alphamin’s MD.

Top projects

44  MODERN MINING  January 2018