Mutanda mining

MUTANDA MINING

A HIGH-GRADE COPPER AND COBALT PRODUCER IN KATANGA

Mutanda Mining (known as “MUMI”)  comprises the Mutanda and Kansuki concessions in the Katanga province of the Democratic Republic of Congo which were merged in July 2013. MUMI is jointly owned by Glencore (69% ownership) and Fleurette (31% ownership).

MUMI is managed by Glencore who also have a 100% offtake contract for all copper and cobalt production. MUMI is a high-grade copper and cobalt producer. Total copper production for 2014 was up 31% to 197,129 tons (2013: 150,553 tons).

  • $1.8B 
    total investment,
    $440M
    by Fleurette
  • 3,500
    people employed

  • Ownership:
    69%

    Glencore,
    31%
    Fleurette

  • Annual Production:
    Copper 200,000 tons
    Cobalt 16,500 tons

  • Est. Mine Life: 15 years
    Est. reserves:
    Copper 5.5M tons
    Cobalt 2M tons

TRACK RECORD

MUMI employs over 3,500 people (of which 96% are Congolese nationals) at the current design capacity, and as further investment is made into the asset, we would expect this number to increase.

Ownership
Glencore - 69% /  Fleurette Group (through Fleurette Mumi Holdings Ltd) - 31%. Fleurette Group has board representation. Glencore has management control of MUMI and a Life of Mine offtake agreement for both the Mutanda and Kansuki concessions.

Investment
$1.8 billion of capital expenditure in MUMI mines and plant development of which Fleurette Group has invested $440 million

Annual Production
Since 2013, MUMI has nearly tripled copper output from 80,000 to 200,000 tones. 
Copper: current annualized production of 200,000 tons, reached in 2015.
Cobalt: current annualized production 16,000 tons

Life of Mine
Estimated mine life of 15 years, with 5.5 million tons of copper and 2 million tons of cobalt mineral resources

Investment

Investment History

In 2006, Fleurette Group acquired an interest in Kansuki, a 185 km2 copper-cobalt greenfield site in the Katanga province, with no infrastructure or detailed exploratory work.

In 2011, Fleurette Group acquired its stake in the adjacent Mutanda copper-cobalt concession. 

In July 2013, Mutanda and Kansuki merged creating Mutanda Mining (MUMI), a world-class, high-grade DRC copper and cobalt project with a mine life of over 20 years

In February 2015, MUMI acquired the rights in the Chabara concession from Dino Steel (a private company). The Chabara concession is located within Mumi’s concession area.

Since 2013 its merger, MUMI has nearly tripled copper output from 80,000 to 200,000 tons.

Operational Status

MUMI OPERATES SEVERAL PROCESSING ASSETS 

MUMI currently operates a variety of processing assets associated with the three open pit mines, including a sulfuric acid and liquid sulfur dioxide plant, concentrate operations, oxide leach, solvent extraction (SX) and electro winning (EW) facilities. It is expected that the three mining pits will be consolidated into one large open pit by 2018.

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