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“Geovic
Mining Corp. aims to be the world's largest primary producer of cobalt by
late-2010”
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Geovic Mining
Corp.
743
Horizon Court
Suite
300A
Phones:
970.256.9681, 720.350.4130
Fax:
970.256.9241
E-mail:
ahoffman@geovic.net
We’re on
the Web!
www.geovic.net
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GEOVIC MINING ANNOUNCES KEY
CONSTRUCTION MANAGEMENT APPOINTMENTS AT NKAMOUNA
May 20, 2008 – Geovic Mining Corp.
(“Geovic” or “The Company”, TSX:GMC), on behalf of
its 60%-owned subsidiary Geovic Cameroon PLC (GeoCam), is pleased to announce
three key appointments as it rapidly moves toward construction of its
Nkamouna Cobalt-Nickel-Manganese project in Cameroon, Africa.
Johann du Preez
has been appointed Construction Manager, and is charged with overseeing all
major construction at Nkamouna, currently scheduled to commence in late
2008. Mr. du Preez has more than 30 years experience as a construction
manager, principally with African mineral processing plants and
infrastructure improvements. He has overseen 18 separate projects
totaling U.S. $5.4 billion, last working as resident construction manager at
the Kolwezi copper/cobalt project in the Democratic Republic of Congo.
As Kolwezi is expected to be one of the world’s largest copper/cobalt
processing plants, Mr. du Preez is uniquely qualified to enhance the
engineering and design of Nkamouna, and subsequently lead its construction
effort.
Anthony Mills has
been appointed Engineering Project Manager to serve as GeoCam’s primary
liaison and representative to the engineering and design Alliance, consisting
of Bateman International Projects BV, Roberts & Schaefer Australia Pty.
Ltd., and Group Five Projects Pty. Ltd.. The Alliance is principally
based in Brisbane, Australia where Mr. Mills recently located, and is continuing
under a Professional Service Agreement that has been extended until
negotiations are complete on a comprehensive engineering, procurement and
construction management agreement between the Parties. Mr. Mills has
more than 40 years of experience in project management, engineering, and
construction, including more than 30 years with mining and mineral processing
projects. Mr. Mills previously served as Project Manager with
engineering and construction companies specializing in the mineral industry,
including Fluor, Mineral Resource Development Inc., and Kvaerner.
Andrew Ramcharan has
been appointed Manager, Technical Services, based in the Company’s home
office in Grand Junction, Colorado. His primary responsibility will be
optimization of the Cameroon mining plans, and secondarily to assist Geovic
in the evaluation of new projects. Mr. Ramcharan has more than 10 years
experience as a Mining Engineer/Analyst, specializing in three-dimensional
geologic modeling, resource/reserve estimation, and all aspects of project
planning/execution. A graduate of and PhD candidate from the Colorado
School of Mines, he has already worked on more than 50 projects in five
continents.
David Beling, COO of
Geovic comments “These appointments will markedly advance the development,
construction and production phases at Nkamouna. We look forward to
commencing major construction in late 2008, and are very excited by the
caliber of professionals we have added to our expanding team.”
Geovic Background
Geovic owns 60% of seven
cobalt-nickel-manganese deposits located on a 1,250 square kilometer Mine
Permit in Cameroon. The unique ore in the first deposit to be developed is
concentrated and upgraded to approximately 0.7% cobalt, 1.0% nickel and 3.8%
manganese by simple washing and sizing prior to processing, thereby
substantially enhancing economic performance.
Additional Company and
Project information may be found on the websites www.geovic.net, www.sedar.com
and www.sec.gov.
For more information,
please contact:
Andrew Hoffman or Vanguard
Shareholder Solutions
VP, Investor Relations 604-608-0824
Geovic Mining Corp.
866-801-0779
(720) 350-4130 ir@vanguardsolutions.ca
ahoffman@geovic.net
On behalf of the Board
John E. Sherborne, CEO
The foregoing information
may contain forward-looking statements relating to the future performance of
Geovic Mining Corp. Forward-looking statements, specifically those concerning
future performance, are subject to certain risks and uncertainties, and
actual results may differ materially. These risks and uncertainties are
detailed from time to time in Geovic’s filings with the Canadian
securities regulatory authorities and the Securities and Exchange Commission.
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