Namibia copper miner in joint venture with Anglo American
(afriquenligne.fr)
Updated:
2008-05-22 09:33
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London quoted base metals producer Weatherly International plc said it had formed a joint venture with Anglo American plc to explore for zinc in Namibia's North-western regions.
Weatherly, an integrated base metals producer with principal copper mining and refining operations in Namibia, said here Wednesday that the joint venture was with Ambase Prospecting, a subsidiary of Anglo, to explore for base metals.
The exploration will be carried out in Weatherly's tenement, exploration licence 2906, in the Grootfontein area, in the Otjozondjupa region.
The area is adjacent to the Berg Aukus zinc mine.
Weatherly said in a statement that Anglo American would pump US$2 million for the next three years into the joint exploration venture, depending on the results and progress.
"We are delighted to have entered into this joint venture with Anglo American to explore the Otjozondjupa region," said Weatherly International.
"We believe that our regional knowledge and experience will complement and enhance the skills and resources of such a reputable multi-national as Anglo American in this partnership," it added.
Weatherly has previously said it is on course to raise output to about 50,000 tonnes of copper in 2009 from its Namibian operations and toll refining.
The copper miner said in its 2007 financial report that it would commission two copper mines during the year and raise the capacity at its Tsumeb refinery to about 800,000 tonnes of copper bearing ore.
The re-commissioning of the Tsumeb concentrator mid this year is expected to lead to improved copper recoveries.
Weatherly has five copper mines in Namibia and has interests in Zambia's copper rich Luanshya district.
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