hier was zum Lesen:
"UPDATE: Tiger To Buy Congo Copper Mines, Boost Assets-CEO
14 November 2011
Source: Dow Jones International News
By David Winning
-- Tiger looks to expand acreage in the Democratic Republic Of Congo
-- Deals could expand DRC footprint five-fold to over 1,000 square kilometers
-- New deposits would feed proposed central processing plant, spur expansion
Tiger Resources Ltd. is in talks to buy copper mines and prospects in the Democratic Republic of Congo that could quintuple its assets in the latest sign of a scramble for Africa's resources to meet Asian commodity demand.
Tiger is targeting late-stage exploration assets and mines close to its existing Kipoi project in Congo's Katanga copper belt that could be developed to feed a proposed regional processing plant, Brad Marwood, the company's chief executive said in an interview with Dow Jones Newswires.
It comes as deal activity in Central Africa mining assets intensifies, especially among Chinese companies looking to lock up reserves of copper, which is used in everything from making tablet computers to indoor plumbing and electrical wires.
Hong Kong-listed Minmetals Resources Ltd. (1208.HK) placed the latest bet on the region with last month's US$1.26 billion offer to buy Anvil Mining Ltd. (AVM.AU), which owns the Kinsevere mine, less than 100 kilometers from Tiger's Kipoi project. Earlier this year, Chinese nickel company Jinchuan Group Co. (2362.HK) offered US$1.35 billion for South Africa's Metorex Ltd. (MTX.JO), which owns the Ruashi mine in the Katanga copper belt.
Tiger is developing the Kipoi project in phases, with the first stage producing over 2,200 metric tons of copper in concentrate monthly after the mine came online in April. This strategy is giving the company cash flow that could be used to fund the construction of a processing plant.
Executives expect the plant will first process stockpiled ore from 2014, and then use newly mined material around two years later. The startup of the plant would lift Tiger's annual output to 50,000 tons of copper cathode, expanding to 100,000 tons by 2017, even if deals for nearby deposits fail to materialize.
Tiger owns licenses covering 200 square kilometers in the Katanga copper belt, but hopes to increase that to over 1,000 square kilometers through acquisitions. Exploration success and deals for operating mines could bring economies of scale and raise Tiger's annual output as high as 150,000 tons.
"By the time we get to 150,000 tons of copper production in a regional context, we're talking about a reasonable-size operation with about US$750 million a year as the margin based on current copper prices," Marwood said.
Any deals would likely be concluded after the Congo's forthcoming election, scheduled for Nov. 28, due to the risk of instability. They likely also wouldn't involve an immediate cash outlay, with payments starting after the central processing plant comes online.
"We would pay for an acquisition out of income on a royalty basis, which I think is a much more tenable approach in a high-risk environment," Marwood said.
Tiger's shares have nearly doubled in value in little more than a year on the Australian Securities Exchange to value the company at A$312 million, lifted by the start of production at Kipoi, strong demand for copper and potential takeover activity.
Tiger's biggest shareholder is Dutch trading house Trafigura Beheer B.V., which owns a 26% stake and has a director on the board. Trafigura was also the biggest shareholder in Anvil Mining, but has accepted Minmetals' takeover offer."
----------------------------
Gefunden auf HotCopper
hotcopper.com.au/...sp?fid=1&tid=1603834&msgid=9197149
Auf Katzenpfoten...?
"UPDATE: Tiger To Buy Congo Copper Mines, Boost Assets-CEO
14 November 2011
Source: Dow Jones International News
By David Winning
-- Tiger looks to expand acreage in the Democratic Republic Of Congo
-- Deals could expand DRC footprint five-fold to over 1,000 square kilometers
-- New deposits would feed proposed central processing plant, spur expansion
Tiger Resources Ltd. is in talks to buy copper mines and prospects in the Democratic Republic of Congo that could quintuple its assets in the latest sign of a scramble for Africa's resources to meet Asian commodity demand.
Tiger is targeting late-stage exploration assets and mines close to its existing Kipoi project in Congo's Katanga copper belt that could be developed to feed a proposed regional processing plant, Brad Marwood, the company's chief executive said in an interview with Dow Jones Newswires.
It comes as deal activity in Central Africa mining assets intensifies, especially among Chinese companies looking to lock up reserves of copper, which is used in everything from making tablet computers to indoor plumbing and electrical wires.
Hong Kong-listed Minmetals Resources Ltd. (1208.HK) placed the latest bet on the region with last month's US$1.26 billion offer to buy Anvil Mining Ltd. (AVM.AU), which owns the Kinsevere mine, less than 100 kilometers from Tiger's Kipoi project. Earlier this year, Chinese nickel company Jinchuan Group Co. (2362.HK) offered US$1.35 billion for South Africa's Metorex Ltd. (MTX.JO), which owns the Ruashi mine in the Katanga copper belt.
Tiger is developing the Kipoi project in phases, with the first stage producing over 2,200 metric tons of copper in concentrate monthly after the mine came online in April. This strategy is giving the company cash flow that could be used to fund the construction of a processing plant.
Executives expect the plant will first process stockpiled ore from 2014, and then use newly mined material around two years later. The startup of the plant would lift Tiger's annual output to 50,000 tons of copper cathode, expanding to 100,000 tons by 2017, even if deals for nearby deposits fail to materialize.
Tiger owns licenses covering 200 square kilometers in the Katanga copper belt, but hopes to increase that to over 1,000 square kilometers through acquisitions. Exploration success and deals for operating mines could bring economies of scale and raise Tiger's annual output as high as 150,000 tons.
"By the time we get to 150,000 tons of copper production in a regional context, we're talking about a reasonable-size operation with about US$750 million a year as the margin based on current copper prices," Marwood said.
Any deals would likely be concluded after the Congo's forthcoming election, scheduled for Nov. 28, due to the risk of instability. They likely also wouldn't involve an immediate cash outlay, with payments starting after the central processing plant comes online.
"We would pay for an acquisition out of income on a royalty basis, which I think is a much more tenable approach in a high-risk environment," Marwood said.
Tiger's shares have nearly doubled in value in little more than a year on the Australian Securities Exchange to value the company at A$312 million, lifted by the start of production at Kipoi, strong demand for copper and potential takeover activity.
Tiger's biggest shareholder is Dutch trading house Trafigura Beheer B.V., which owns a 26% stake and has a director on the board. Trafigura was also the biggest shareholder in Anvil Mining, but has accepted Minmetals' takeover offer."
----------------------------
Gefunden auf HotCopper
hotcopper.com.au/...sp?fid=1&tid=1603834&msgid=9197149
Auf Katzenpfoten...?
Werbung
