CAMEC is an Africa focused emerging mining company which comprises world class copper/cobalt resource in the Democratic Republic of Congo with the potential to support significant, scalable, low cost production capacity and an excellent portfolio of development projects in commodities including coal, platinum, bauxite and fluorspar. Company's operations are supported by integrated trucking and logistics business.
CAMEC's copper and cobalt operations (Luita) are located in the Democratic Republic of Congo.
CAMEC is a holder of coal licences in Mozambique (Carvoa Da Maravia), including the 100 per cent owned 871L coal project, in the prospective Zambezi coal province in Mozambique.
Company's assets also include the 80 per cent owned Falea alumina project in Mali, which is located within the area of south Mali and Guinea.
In platinum, CAMEC has a controlling interest in a number of significant assets in Zimbabwe, including a 60 per cent interest in the Bokai and Kironde claims held through Todal Mining (Pty) Limited.
In Fluorspar, Company holds a majority stake in the Doornhoek Fluorspar Project located adjacent to the Wiktop Fluorspar mine in South Africa.
CAMEC is a UK company whose shares were admitted to trading on AIM on 9 October 2002. For the year ended 31 March 2008, CAMEC reported a profit before tax of £54,202,000 and had total assets as at 31 March 2008 of £800,412,000, including cash and cash equivalents of £17,882,000.
ENRC intends to invest in the DRC copper/cobalt operations with a view to increasing copper production capacity to approximately 75,000tpa within approximately 3 years. Initial CAPEX program for copper and cobalt estimates approximately US$230 million over an approximately 5-year period - majority falling in the first three years. Program will be focused on increasing overall processing recoveries, cost efficiencies and enabling the production of LME Grade A copper cathode.
