Tenke Fungurume, DRC
Copper Cobalt mine
Tenke Fungurume ("Tenke") is a major new copper-cobalt operation located in the southern part of Katanga Province, Democratic Republic of Congo ("DRC"). Freeport- McMoRan Copper & Gold Inc. ("FCX" or "Freeport") is the operating partner. La Générale des Carrières et des Mines ("Gécamines"), the Congolese state mining company holds a 17.5% free carried interest in the project. Owing to the carried interest of Gécamines, capital funding is provided by FCX and the Company as to 70% and 30%, respectively.
The Tenke Fungurume concessions encompass over 1,500 km2 and are located approximately 175 km northwest of Lubumbashi in Katanga Province. The project entails an open pit mining operation and an initial 40-year mine plan has been developed based on current proven/probable reserves.
Production of copper cathode commenced in the first quarter of 2009. Phase 1 name-plate capacity is 115,000 tonnes per annum of copper cathode and 8,000 tonnes per annum of cobalt in hydroxide form.
Please click here for further information on the Tenke Fungurume project:
http://www.fcx.com/operations/africa.htm
Tenke Fungurume Mine (24.75% equity interest)
| Location |
Katanga Province, Democratic Republic of Congo |
| Ownership |
Lundin 24.75%, FCX 57.75%, Gécamines 17.5% |
| Type of ore body |
Sedimentary copper and cobalt |
| Primary metal |
Copper |
| Secondary metal |
Cobalt |
| 2P reserves |
135mt @ 3.1% Cu, 0.3% Co (100% basis)* |
| Type of mine |
Open pit |
| Mine facilities and method |
Vermeer surface miner, drill and blast, loader and truck |
| Processing facilities |
Milling and leaching circuit; solvent extraction feeding a copper tankhouse (115ktpa cathode capacity) and a cobalt plant (8ktpa hydroxide capacity); SO2 plant; sulphuric acid plant; tailings impoundment |
| End product |
Copper cathode, cobalt hydroxide |
| Expected mine life |
40+ years |
| Employees |
3,000+ full time employee equivalents |
| Potential growth |
Tenke is a mining district with over 20 identified deposits containing oxide, sulphide and mixed ores to depths of up to 2,000 metres |
2010 Targets
| Production |
Copper |
|
Cobalt |
Cash costs |
USc/lb |
|
115,000 tonnes of cathode (100% basis)
Not guided
Upon reaching design capacity in the Cu & Co circuits, and assuming average cobalt prices of $10 per pound, average unit net cash costs are targeted to be $0.50/lb of Cu. |
*SEC/NI 43-101 Compliant
Click here to see full Reserves and Resources statement
Quarterly Operations Update
