African Copper Plc
TSX : ACU
AIM : ACU

African Copper Plc

January 09, 2007 02:00 ET

African Copper Plc: David Jones Appointed Deputy Chairman; Joseph Hamilton Appointed CEO; Chris Fredericks Appointed COO

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 9, 2007) - African Copper ("African Copper" or the "Company") (TSX:ACU)(AIM:ACU)(BSE:AFRICAN COPPER) today announced that, in a planned succession to further strengthen its corporate growth, David Jones, CEO and a co-founder of the Company, has been appointed Non-Executive Deputy Chairman and Joseph Hamilton, the Company's Chief Operating Officer, has been appointed CEO. Additionally the Company announced that Chris Fredericks has been appointed COO.

"As African Copper prepares for the next phase of its corporate development, we must continue to build to our management team to ensure its success" stated David Jones. "Elevating Joe to the chief executive role and attracting Chris to the chief operating officer role moves us in that direction. Joe has played a pivotal role in leading the Company towards production at the Dukwe Project over the past year and I intend to do everything I can to support him and ensure his success as CEO. We are excited to have two individuals with the skills and experience of Joe Hamilton and Chris Fredericks on our team as we commence construction and begin preparing for commercial production."

The Board of Directors wishes to thank Mr. Jones for his important contributions to the development of African Copper over the past 3 years. His efforts have moved the Company from inception, through the Company's IPO in November 2004 to the existing position where the Company is constructing and set to operate a mine at the Dukwe Project in Botswana. The Board welcomes Mr. Jones to his new position and looks forward to his continued participation.

Mr. Hamilton has been a Director and the Chief Operating Officer of the Company since January, 2005. He served as the Senior Analyst and Director, Global Precious Metals Research for RBC Capital Markets, Canada's largest Investment Dealer from early 2003 to the end of 2004. With over seven years of Capital Markets experience as an Analyst, and 14 years of industry experience in international exploration and development roles, he brings over 20 years of industry experience to this position. Mr. Hamilton holds a M.Sc. (Applied) degree in Mineral Exploration, is registered as a Professional Geologist (P.Geo.) and holds a Chartered Financial Analyst designation (CFA).

Mr. Fredericks brings a solid operating background to the management of African Copper with over 27 years experience in base metal mining and exploration from varied exposure to large-scale open pit and underground mining operations on the Zambian Copperbelt and in Botswana. Mr. Fredericks was the General Manager of the LionOre Mining International's Tati Nickel mine in Botswana until late 2005 and for the past year has been involved in business development for LionOre in Southern Africa while remaining a director of the Tati Nickel Mining Company. Mr. Frederick's base metal experience in Southern Africa complements the strong construction and operating team that African Copper has assembled in Botswana. The Board believes that his addition to the senior management team of the Company will enhance the abilities already assembled and serve to anchor the Company as it makes the transition from explorer to producer. Mr. Fredericks holds a B.Sc Geology degree from Rhodes University.

There are no other disclosures required under Schedule 2, Paragraph (g) of the AIM rules.

Notes to Editors:

African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development company. African Copper is developing its first copper mine at the Dukwe Project to commence production in 2008. The flotation concentrator at Dukwe has been designed for a 3,000 tonne per day throughput producing approximately 44 million pounds of copper in concentrate annually at full production. Initial production is expected to be from open pit, followed by underground mining of sulphides. The Company believes that it has, or will have access to, sufficient financial resources to develop Dukwe.

The Company's other interests are the 4,000 sq km Matsitama exploration concession adjacent to Dukwe. Drilling at the Thakadu Copper-Silver Project has returned up to 4.5% copper and 70 g/t silver over mineable widths. Drilling is essentially complete and a resource estimate is planned to be completed early in 2007. The Matsitama area contains a further 9 high priority drill-ready targets and 35 lower priority targets. African Copper has approximately 130 million shares outstanding.

This document contains or refers to forward-looking information, including statements regarding estimates of future production, exploration and mine development activities and plans, timing of commencement of operations, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to establish estimated resources and reserves, the grade and recovery of ore which is mined varying from estimates, delays in obtaining or failures to obtain required governmental, or other project approvals, political risks arising from operating in Africa, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

Further information about our properties, to download a copy of our Annual Report or any technical report or to access our Press Release Archive please visit www.sedar.com or our website at www.africancopper.com.

Contact Information

  • African Copper Plc
    Joe Hamilton / Brad Kipp
    +44 (0) 20 7321 3721
    Website: www.africancopper.com
    or
    Numis Securities Limited (NOMAD)
    John Harrison / James Black
    +44 (0) 20 7776 1590
    or
    Parkgreen Communications
    Justine Howarth / Clare Irvine
    +44 (0) 20 7851 7480