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Kolwesi Musonoi Project
Kolwesi Musonoi
Country
Congo Dem. Rep. of
Status
MINE DEVELOPMENT
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Risk and valuation analysis of the Kolwesi Musonoi Project
Status Risk : Mine development
Country Risk : Important
Resource Risk : 59.00%
Title(s) of the Kolwesi Musonoi Project
First Quantum Minerals Ltd.
Interest: 65%
Title
Company Profile
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Gecamines
Interest: 12.5%
Title
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First Quantum holds 65% of Kolwezi, Gécamines holds 12.5%, the Industrial Development Corporation (IDC) of South Africa 10%, the International Finance Corporation (IFC) 7.5%, and the government of the DRC, 5%
Location of the Kolwesi Musonoi Project
The Kolwezi Project is situated within the Katanga region, which is inside the DRC portion of the Copperbelt. The project is accessed by unpaved road from Kolwezi, Kolwezi is situated approximately 320 kilometres northwest of Lubumbashi, which is the capital of the Katanga province in the DRC.
History of the Kolwesi Musonoi Project
Tailings located at the Kolwezi Project originated from a mineral concentrator at a mine owned by the DRC’s stateowned mining company, La Générale des Carrières et des Mines (“Gécamines”), which commenced operations in 1952. The concentrator processed ore from the western open-pit copper mines of the Katanga copper belt area of the DRC into copper concentrate which was then shipped from Kolwezi for smelting. The nature of the oxide ore meant that copper and cobalt recovery in the concentrate was incomplete. The resulting tailings therefore contained significant metal values.
Reserves and resources of the Kolwesi Musonoi Project
Tonnage
Grade
Reserves and resources
Cobalt
Copper
Cobalt
Copper
%
%
lbs
lbs
Measured
67,424,650
0.33
1.59
490 531 499
2 363 469 948
Indicated
3,061,698
0.38
1.40
25 649 577
94 498 441
Mesured and Indicated
70,486,348
0.33
1.58
516 181 076
2 457 968 389
Total
70 486 348
516 181 076
2 457 968 389
Definitions
Reserves and resources of the Kolwesi Musonoi Project
Metal
Total
Reserves
Resources
Unit
In situ value
Proven
Probable
Proven and Probable
Measured
Indicated
Mesured and Indicated
Inferred
Copper
2 457 968 389
2 363 469 948
94 498 441
2 457 968 389
lbs
8 046 159 522 US$
Cobalt
516 181 076
490 531 499
25 649 577
516 181 076
lbs
US$
Exploration and drilling
9/23/2009
Suspends Construction at Kolwezi Project
9/1/2009
Provides Update on the Kolwezi Mining Contract Revisitation
2/20/2008
Receives Notice From DRC Mining Contract Review in Regard to...
Data last updated on : 8/11/2003
Disclaimer
All information on this page comes from internal and external sources deemed reliable. This information might not be up to date, so please perform due diligence before making any conclusion or making any action. Do contact us should any information be missing or incorrect.
Cautionary Note to US Investors concerning estimates of Measured and Indicated Mineral Resources
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