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African Copper Plc

Publié le 22 mai 2012

Failure of the Ball Mill Pinion Shaft at the Mowana Mine

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Mots clés associés :   Botswana | Copper |
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African Copper PLC
AIM: ACU
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May 22, 2012
African Copper Plc: Failure of the Ball Mill Pinion Shaft at the Mowana Mine
LONDON, UNITED KINGDOM--(Marketwire - May 22, 2012) - African Copper Plc (AIM:ACU)(BOTSWANA:AFRICAN COPPER) ("ACU" or the "Company") announces the failure of the Ball Mill pinion shaft at the Company's Mowana Mine facility in Botswana on Sunday, 20 May 2012. The failure and resultant damage has rendered the Ball Mill inoperable until a replacement is installed and has resulted in the immediate cessation of the production of copper concentrates. Prior to the incident, the mill was running normally at 135tph.

The pinion shaft was due for replacement in early June 2012, with a replacement ordered ten months earlier. The new pinion shaft was due to be delivered on 5 June 2012 and management are currently investigating the possibility, with the supplier, for earlier delivery. Due to the long lead time for taking delivery of the pinion from the manufacturers, it is expected that the Mill will be out of operation for a minimum of 12 days. Management also intends to replace the Mill gearbox and liners during the replacement of the pinion.

All other mining activities, including drilling, load and haul, and ore transportation are expected to continue to plan. The crushing sections at the Mowana Mine facility will continue running with the aim of filling both the coarse and fine product stockpiles with the higher grade Thakadu ore, with a view to building the ore stockpiles in front of the Mill. This will allow the plant to run at a higher throughput once the Mill is repaired. Some contractors whose equipment has not been performing to expectation will, in the meantime, be required to stop activities so that they can maintain their equipment in preparation for higher productivity when the Mill restarts.

A further announcement will be made in due course, once management can confirm a restart date and quantify the financial effects of the incident.

Notes to Editors:

African Copper Plc is an AIM and Botswana listed copper producer and exploration company, currently focused on Botswana. The Company's flagship project is the copper producing open pit Mowana mine. ACU also owns the rights to the adjacent Thakadu-Makala deposit. Both deposits are situated on the highly prospective Matsitama belt, located close to Botswana's second largest city, Francistown, in the north-eastern part of the country.

CONTACT INFORMATION:
African Copper Plc
Brad Kipp
Chief Financial Officer
+1 (416) 847 4866
bradk@africancopper.com
www.africancopper.com

or

Tavistock Communications (PR and IR)
Simon Hudson
+44 (0) 20 7920 3150

or

Canaccord Genuity (NOMAD and Broker)
Andrew Chubb/Tarica Mpinga
+44 (0) 20 7050 6500
INDUSTRY: Manufacturing and Production - Mining and Metals

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Données et statistiques pour les pays mentionnés : Botswana | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Botswana | Tous

African Copper Plc

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CODE : ACU.L
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African Copper est une société de production minière de cuivre basée au Royaume-Uni.

African Copper est en développement de projets de cuivre et d'argent au Botswana, et détient divers projets d'exploration au Botswana.

Son principal projet en production est MOWANA MINE au Botswana, son principal projet en développement est THAKADU au Botswana et son principal projet en exploration est MATSITAMA au Botswana.

African Copper est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 44,6 millions GBX (40,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 20 juillet 2007 à 97,50 GBX, et son plus bas niveau récent le 05 juin 2015 à 0,03 GBX.

African Copper possède 1 485 110 016 actions en circulation.

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