Eurasian Resources Group enters into a principal agreement with China?s NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Eurasian Resources Group Improves Performance of its Frontier Mine in the Democratic Republic of the Congo to produce over 107kt of Copper in 2016
Frontier Mine, owned by Eurasian Resources Group (ERG), one of the leading diversified natural resources producers, delivered more than 107 kt contained copper in concentrate in 2016, an increase of 35% on 2015 output.
Frontier is ERG’s flagship mine in the Democratic Republic of the Congo (DRC) and is the cornerstone of the Group’s copper business in Africa. In 2016 the plant improved its performance across many key indicators.
A revised production plan was launched by ERG in late 2015 to increase long-term copper production at Frontier by improving the efficiency and effectiveness of its operating model.
The growth was the outcome of considerable operational improvements and investment while the mine also changed the way it deployed contractors. Major benefits were realised from Q2 2016 onwards, resulting in a steady supply of copper ore, improved plant feed grades and plant throughput tonnages.
John Robertson, Frontier Mine President - General Manager, said: “The production figures at our flagship Frontier Mine are very encouraging and I am proud of what the team has achieved. This is a major step forward for the Group and supports ERG Africa’s strategy to become a regional copper and cobalt champion. Our people are ERG’s greatest asset and their ability to plan, embrace change and deliver solid results is commendable.”
“The achievements at Frontier Mine play a key part in forming a balanced production system alongside ERG’s copper and cobalt asset portfolio in Africa, which also includes Boss Mining, Comide, Chambishi Metals, and the Metalkol Roan Tailings Reclamation project,” Robertson added.
“Our team saw the increased production potential of Frontier and together with the Group, production increases have been achieved sustainably, putting long term durable solutions in place to enable the plant to produce copper concentrate at a highly competitive cost and move the Group further towards becoming a first quartile producer on the industry cost curve.”