Kitumba Copper Project, Zambia

A scoping study was completed on the Kitumba copper project in Zambia. The study evaluated a truck-and-shovel, openpit mine using conventional mining techniques and was based on a recently completed geological model, which estimated 439-million tons of in situ ore at 0.25% copper cutoff, comprising 164 million tons of indicated mineral resource. The estimated startup capital expenditure for the project is $680 million. The exact co-ordinates are currently not available however the approximate area of location is lat: -14.6963889; long: 26.7913889.