Modern Mining Marchh 2017

MINING News

Joint Venture to develop copper/cobalt projects in DRC

ASX-listed Cape Lambert Resources has entered into a binding Heads of Agreement with Congolese company, Paragon Mining SARL, to form a 50/50 Joint Venture (JV) to develop the Kipushi cobalt tailings project and the Kasombo copper-cobalt project and operate the Kipushi processing plant in the DRC. The projects are located approximately 25 km from Lubumbashi in Katanga Province. Commenting on the agreement, Cape Lambert’s Executive Chairman, Tony Sage, said: “Cape Lambert has built a successful track record of identifying commodities and projects at the right time. By apply- ing our technical, financial and marketing support, we can add immediate value to these projects and return significant value to the company, its shareholders and all stakeholders. “We believe cobalt, as a commodity, has an extremely positive future and with this transaction and the proposed joint venture, we believe we are well placed to benefit from significant demand and price

The Kipushi plant has a capacity of 150 t/h (photo: Cape Lambert).

The facility comprises a fully permit- ted, conventional flotation plant with a throughput of 150 t/h (annual throughput of plus 1,0 Mt) and has a design capacity of 4 000 t/a of cobalt, 10 000 t/a of copper and 2 000 t/a of zinc in concentrate. The processing plant has been designed and constructed to treat the Kipushi cobalt

increases in this commodity sector.” Construction of the Kipushi processing plant commenced in July 2014, with final mechanical and power installation testing completed in March 2016. Total construc- tion costs of approximately US$20 million have been incurred on the establishment of the plant and mining equipment.

The Kipushi tailings extend over an area of more than 1,2 km in length and 400 m in width (photo: Cape Lambert).

Maiden resource declared for Acacia prospect LSE-listed Acacia Mining has announced a maiden NI 43-101 compliant inferred min- eral resource estimate of 1,31 Moz of gold at 12,1 g/t on the Liranda Corridor within the company’s West Kenya project.

was a first step in the delineation of a multi- million ounce high-grade corridor. “In addition to the Acacia prospect, which hosts all of this maiden resource, we have known mineralisation on the Bushiangala prospect, one kilometre away to the west, with a further three prospec- tive lodes in early stage testing,” he said. “Whilst Kenya is a relatively new mining destination, we are very pleased with the relationships we have built and the sup- port we have received and look forward to working closely with all stakeholders as we progress this highly promising project.” 

A 45 000 m drilling programme has been budgeted for 2017 with six rigs active on site, targeting an increase in resource to over 2 Moz in H2 2017. Acacia says that a scoping study on a potential underground operation is planned to commence in H2 2017. Commenting on the maiden resource, Acacia’s Chief Executive Officer, Brad Gordon, described the West Kenya proj- ect as one of the highest grade projects in Africa today and said the initial resource

All inferred material is located on the Acacia prospect with multiple lodes open laterally and at depth. There is also near term upside from the Bushiangala pros- pect which has known mineralisation which has not yet been incorporated into the maiden resource.

12  MODERN MINING  March 2017