FOR IMMEDIATE RELEASE TSX, ASX: AVM
February 28, 2012 Common shares outstanding: 165 Million
Perth, Australia: Anvil Mining Limited (TSX, ASX: AVM) (“Anvil” or the “Company”). The ramp-up of Copper cathode production at Kinsevere operations in the Democratic Republic of Congo (“DRC”) has been impacted by power supply issues, with approximately 4,000 tonnes of cathode produced year to date.
Current power supply issues have been caused by unexpected network-wide power outages within the Katanga region. A combination in the last two weeks of low water levels, infrastructure failure and inability to access power from neighbouring Zambia has led to an extended period of no, or limited, power allocation to the Kinsevere site, from Société nationale d’électricité, the national electricity company of the DRC .
Minmetals Resources Ltd (“MMR”) has been working closely with Kinsevere management and, electricity providers in the DRC and neighbouring Zambia to improve the reliability of supply. In addition, plans are underway to provide a level of temporary on-site generation to ensure that Kinsevere continues to ramp-up effectively.
The program to repair, upgrade and, ultimately replace, the four electricity transformers in the electrowinning circuit begun in early 2012 is proceeding well and should be concluded by the end of the March Quarter. As a result of commissioning new and refurbished transformers, current operating efficiency in the tank house continues to improve.
MMR will provide an update on the Kinsevere ramp-up at the release of its 2011 Financial Results on March 28, 2012.
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