Repositioned Metorex Set for Kinsenda Copper Boost

Mining Weekly reports that repositioned and recapitalised JSE-listed copper/cobalt miner Metorex is making rapid progress at its Kinsenda project in the Democratic Republic of Congo (DRC), which could add another 20 000 t/y of copper to the company’s current output of 54 000 t/y.

The report is quoted as saying:

“It looks like it could be all systems go with Kinsenda,” Metorex CEO Terence Goodlacetells Mining Weekly Online in a video interview (see attached).

The formerly loss-making Metorex reported a 27% higher R1,8 billion gross revenue in the six months to December 31 and a 111 % uplift in mining profit to R851-million.

The company has turned the corner at its Ruashi project, also in the DRC, and there has been record production out of the company’s Chibuluma mine in Zambia.

To read the full report, click here.