Canada's Anvil Mining Ltd is to sell its 90 per cent interest in the Dikulushi copper-silver mine in the Democratic Republic of Congo (DRC) to Australia's Mawson West Ltd. In return Anvil will receive a 28 percent stake in the junior miner.
The company said it is focused on larger copper projects in the DRC, in particular the copper mine project Kinsevere Stage II in Congo which is expected to yield 60,000 tonnes per year of cathode copper and is expected to begin commissioning during the first quarter of 2011. The Company plans to carry out further drilling at Kinsevere during 2010 and is investigating expansion opportunities with attractive synergies for the Kinsevere operation with the possibility of extending the processing life of the project.
The Dikulushi copper-silver mine was placed on care and maintenance in the fourth quarter of 2008 due to weaker commodity prices.
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