Metorex looks to copper

Metorex, the South African based mining company, is turning its attention to copper, having identified the commodity as its most important path to growth.

The company is currently expanding its Chibuluma and Ruashi II projects and is in the process of acquiring Copper Resources Corporation (CRC), after which it aims to increase copper production to 100,000 tonnes a year.

Metorex expects its Chibuluma copper mine in Zambia to increase output to 14,000 tonnes per year by the end of 2007.

At the same time, its Ruashi project in the Democratic Republic of the Congo (DRC), aims to produce 45,000 tonnes of copper and 3,500 tonnes of cobalt each year.

First copper production from Ruashi is expected in January 2008. Chibuluma has an estimated mine life of 13 years and Ruashi II a life of over 20 years.

Once the group’s acquisition of CRC is complete, Metorex will focus on CRC’s Kinsenda and Musoshi Mines in the DRC.

Kinsenda has an annual copper production potential of 25,000 to 30,000 tonnes and Musoshi 10,000 to 12,000 tonnes per year.

The acquisition of CRC also includes the Lubembe deposit, which has been described as a “massive resource” of 47.5m tonnes at a grade of 2.2%.