MMG Kinsevere continues record year

17 Jul 2014 05:00 PMMedia Release

MMG Limited’s (MMG) Kinsevere mine continued to perform strongly during the second quarter of 2014, culminating in the achievement of half year records for processing, production and sales.

Kinsevere produced 33,550 tonnes of copper cathode during the first half of 2014 – an increase of 3,782 tonnes or 13% compared to the same period in 2013.

Production at Kinsevere, which is located in the Democratic Republic of Congo (DRC), was assisted by increased mining and milling rates as well as higher copper feed grades.

Reliance on higher cost diesel-generated electricity also reduced during the first half of 2014, falling to approximately 40% from approximately 57% during the same period in 2013.

Kinsevere General Manager Miles Naude said that this reduction was largely due to the availability of additional power from Zambia, which borders the DRC. Local grid-sourced power is often augmented with power from neighbouring countries.

"Higher rainfall during the wet season enabled increased power generation at Zambia’s hydro-electricity plant, providing MMG with greater access to grid-sourced electricity."

Mr Naude said that MMG was continuing to work with suppliers regarding future availability of cheaper, grid-sourced power.

"Discussions between domestic and neighbouring country power providers are continuing, with the aim of ensuring the availability of grid-sourced electricity in the medium and long-term."

MMG has also updated 2014 production guidance for Kinsevere to 63,000 to 66,000 tonnes of copper cathode.

MMG 2013 Sustainability Report

MMG released its 2013 Sustainability Report during the second quarter. The report outlines MMG’s approach and performance in regards to safety, health, the environment, community development and sustaining its economic performance.

Mr Naude said the report, the company’s fifth, also highlighted some of Kinsevere’s many social development initiatives.

"We have a vibrant social development program at Kinsevere, with a focus on supporting agricultural development, education, health and wellbeing and business and infrastructure development.

"I was pleased to see a number of Kinsevere’s successful social development initiatives, many of which are continuing in 2014, profiled in the report."

Download the 2013 MMG Sustainability Report.

MMG Limited

MMG is a global resources company which explores, develops and mines base metals deposits around the world. It is one of the world’s largest producers of zinc and also produces a significant amount of copper, lead, gold and silver.

MMG acquired Kinsevere in 2012. Kinsevere produced 62,076 tonnes of copper cathode in 2013 – exceeding nameplate capacity of 60,000 tonnes in its first full year of MMG ownership.

Download the full second quarter 2014 production report.

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