African Copper PLC African Copper Plc: Production for the Second Quarter of Fiscal 2014

 
TIDMACU 
 
African Copper Plc: Production for the Second Quarter of Fiscal 2014 
FOR:  AFRICAN COPPER PLC 
 
AIM SYMBOL:  ACU 
 
October 21, 2013 
 
African Copper Plc: Production for the Second Quarter of Fiscal 2014 
 
LONDON, UNITED KINGDOM--(Marketwired - Oct. 21, 2013) - African Copper Plc (AIM:ACU)(BOTSWANA:AFRICAN COPPER) ("African 
Copper" or the "Company"), the AIM and Botswana listed copper production and exploration company, announces a production 
update for its Mowana and Thakadu Mines for the first six months to 30 September 2013 of its financial year. 
 
Summary 
 
=-  Despite the production issues experienced in the second quarter, ore 
    processed in the first half decreased by only c. 12% to 373,274Mt 
    compared to last year's first half while copper produced in concentrate 
    increased by c. 10% to 4,937 Mt. 
 
=-  Poor mining contractor performance at Thakadu resulted in decreased 
    sulphide ore supply to the process plant and increased oxide ore 
    treatment. Copper recovery decreased to 60.4% from 83.6% during Q1 
    FY2014 and from 63.4% during Q2 FY2013. 
 
=-  Plant downtime impacted the amount of ore processed following the 
    installation of a new primary crusher in July and repairs to the ball 
    mill motor in August and September. During the quarter 192,041Mt of ore 
    was processed compared to 181,233Mt during Q1 FY2014 and 250,022Mt 
    during Q2 FY2013. 
 
Mr Jordan Soko, Acting Chief Executive of African Copper, said: "We continue to focus on improving plant efficiency and 
increasing throughput to raise production levels further towards capacity. Our progress continues." 
 
Production levels for the three months ended 30 September 2013 are set out below: 
 
=--------------------------------------------------------------------------- 
                                                  Total Q2 Total Q2 Total Q1 
                             July  August   Sept.    2013/    2012/    2013/ 
Description                  2013    2013    2013     2014     2013     2014 
=--------------------------------------------------------------------------- 
Ore processed (Mt)         55,010  74,583  62,448  192,041  250,022  181,233 
=--------------------------------------------------------------------------- 
Cu grade (%)                 1.86    1.77    1.18     1.60     1.82     2.03 
=--------------------------------------------------------------------------- 
Recovery (%)                 79.7    38.5    73.1     60.4     63.4     83.6 
=--------------------------------------------------------------------------- 
Concentrate produced (Mt)   3,789   2,651   2,769    9,209   13,967   13,003 
=--------------------------------------------------------------------------- 
Copper produced in 
 concentrate (Mt)             816     508     538    1,862    2,881    3,075 
=--------------------------------------------------------------------------- 
 
Totals for the first six months of FY2014 and comparison with prior periods are as follows: 
 
=--------------------------------------------------------------------------- 
Description                               1H 2013/14  1H 2012/13  FY 2012/13 
=--------------------------------------------------------------------------- 
Ore processed (Mt)                           373,274     421,930     801,901 
=--------------------------------------------------------------------------- 
Cu grade (%)                                    1.81        1.86        1.78 
=--------------------------------------------------------------------------- 
Recovery (%)                                    73.0        57.3        66.5 
=--------------------------------------------------------------------------- 
Concentrate produced (Mt)                     22,212      20,855      44,041 
=--------------------------------------------------------------------------- 
Copper produced in concentrate (Mt)            4,937       4,490       9,496 
=--------------------------------------------------------------------------- 
 
The upgrade of our processing facility continued during the quarter with a new primary crusher installed over a five day 
period at the start of July. During this period, the team took the opportunity to carry out extensive plant maintenance 
and clean up. 
 
The principal reason for the drop in recoveries and copper in concentrate produced during this quarter was shortage of 
high grade sulphide ore from the Thakadu pit. This is directly attributable to the poor performance of the mining 
contractor in stripping the required amounts of hanging wall waste to expose high grade blocks of sulphide ore. 
 
As a result, only 73,960 Mt of Thakadu sulphide ore at 1.08% Cu was mined and processed, compared to Q1 FY 2014 when 
181,233 Mt of Thakadu sulphide ore at 2.03% Cu was mined and processed. 
 
The shortfall necessitated the processing of stockpiled Thakadu oxide ore, which resulted in lower recoveries, 
particularly during August. To improve grades and throughput, a total of 51,767 Mt of mixed oxide/supergene ore at 1.40% 
Cu was mined from the Mowana open pit, and processed. 
 
Throughput was also affected by mill stoppages in August and September to repair and replace the mill actuator and brush 
ring on the main mill motor. 
 
Exploration continued during the second quarter with geological mapping in the Nakalakwana Hill area and test pitting 
and mapping at the Makala deposit immediately west of the Thakadu Mine. 
 
The technical information in this announcement has been reviewed and approved by David De'Ath, BSc (Hons), MSc, GDE- 
Mining, MIMM and MAusIMM, the Company's Manager, Geology, of the Mowana Mine for the purposes of the current Guidance 
Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009. 
 
Notes to Editors: 
 
African Copper 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. African Copper 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. 
 
This announcement contains forward-looking information. All statements, other than statements of historical fact, that 
address activities, events or developments that the Company believes, expects or anticipates will or may occur in the 
future including, without limitation, statements regarding the supply of sulphide ore from Thakadu and increasing 
throughput to raise production levels further towards the plant's capacity are forward-looking information. This forward- 
looking information reflects the current expectations or beliefs of the Company based on information currently available 
to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual 
results of the Company to differ materially from those discussed in the forward-looking information, and even if such 
actual results are realized or substantially realized, there can be no assurance that they will have the expected 
consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from 
current expectations include, among other things, risks related to failure to convert estimated mineral resources to 
reserves, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, the 
possibility that actual circumstances will differ from the estimates and assumptions used in the current Thakadu mining 
plan, future prices of copper, unexpected increases in capital or operating costs, possible variations in mineral 
resources, grade or recovery rates, failure of equipment or processes to operate as anticipated, accidents, labour 
disputes and other risks of the mining industry and political risks arising from operating in Africa and changes in 
regulations affecting the Company. All forward-looking information speaks only as of the date hereof and, except as may 
be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking 
information, whether as a result of new information, future events or results or otherwise. Although the Company 
believes that its expectations reflected in the forward-looking information, as well as the assumptions inherent 
therein, are reasonable, forward-looking information is not a guarantee of future performance and, accordingly, undue 
reliance should not be put on such information due to the inherent uncertainty therein. 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
African Copper Plc 
Brad Kipp 
Chief Financial Officer 
[phone] 
[e-mail] 
www.africancopper.com 
 
OR 
 
Tavistock Communications (PR and IR) 
Simon Hudson 
[phone] 
 
OR 
 
Canaccord Genuity Limited (NOMAD and Broker) 
Andrew Chubb/Tarica Mpinga 
[phone] 
 
 
 
African Copper PLC