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MMG Kinsevere delivers 20 thousand tonnes of copper during first quarter 2015

16 Apr 2015 12:00 AMMedia Release

MMG Kinsevere broke its fourth quarter 2014 production record to produce 20,042 tonnes of copper cathode during the first three months of 2015.

Production of 20,042 tonnes of copper cathode was 6% higher than the fourth quarter 2014 and 19% higher than during the same period in 2014. Stable feed grades, higher milling rates and Kinsevere’s ongoing focus on asset utilisation drove this result.

While mining activity was affected by inclement weather, milling rates increased 4% from the fourth quarter 2014 as the operation was able to draw down on stockpiles built up in preparation for the wet season.

Kinsevere General Manager Miles Naude said that the operation’s production performance must not take away from a tragic incident that led to the loss of a colleague during the quarter.

“My team and I remain devastated by the loss of a colleague, who passed away as a result of a snake bite sustained while on duty at Kinsevere on 21 March.

“We continue to work with the guard’s employer regarding support for his family and provided counselling and other supports to his colleagues.

“We must continue to think safety first in all that we do.”

Reliance on diesel-generated electricity also fell during the first quarter 2015. Approximately 27% of power requirements were met from electricity sourced via diesel generation, down from 29% in the fourth quarter 2014. The majority of power was also sourced locally, highlighting improvements in domestic energy availability.

Annual production guidance for Kinsevere has been revised and MMG expects to produce 67,000–72,000 tonnes of copper cathode at the operation in 2015.

MMG marks three years since acquisition of Kinsevere

20 March 2015 marked three years since MMG completed the acquisition of Kinsevere.

The addition of Kinsevere to MMG’s portfolio of base metals assets substantially increased the Company’s copper output and enabled it to establish a major presence in one of the world’s most prospective regions.

Kinsevere General Manager Miles Naude, who was appointed to his role in April 2013, said he is proud of what his team has achieved in just three years.

“Achieving production of 20,042 tonnes of copper cathode during the first quarter is an important milestone for the operation and our team. It was only in 2013 – the first full year of MMG ownership – that the operation achieved nameplate production for the first time.

“These results reflect the diligence and commitment of our team and demonstrate the value of a focus on operational excellence.”

MMG has also acted on its growth strategy since 2012, undertaking targeted exploration on tenements surrounding Kinsevere with the view of expanding operations or extending mine life. Exploration activity is continuing in target areas during 2015.

Another priority for MMG, Mr Naude said, has been strengthening and expanding the operation’s local workforce and social development activities.

“I am pleased that recognising local talent and supporting career advancement, Congolese nationals now make up the majority of Kinsevere’s leadership team.

“We’ve also significantly expanded Kinsevere’s social development during this time. New initiatives include bursary programs for university and secondary school students, pilot projects to diversify local agricultural output and support to improve teacher engagement at nearby primary schools.

“I believe that by prioritising these areas, MMG can contribute to ongoing socio-economic development in the region for years to come.”

Kinsevere was the main asset of Anvil Mining Limited, a resources company listed on the Toronto Stock Exchange (TSX) and the Australian Stock Exchange (ASX). MMG announced its intention to purchase Anvil in September 2011 and completed the transaction on 20 March 2015.

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