African Copper Plc
TSX : ACU
AIM : ACU

African Copper Plc

November 23, 2006 02:00 ET

African Copper Plc: Environmental Impact Assessment and Environment Management Plan Approved for Dukwe Project

LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 23, 2006) - African Copper Plc ("African Copper" or the "Company") (TSX:ACU)(AIM:ACU)(BSE:AFRICAN COPPER) announces that the Government of Botswana has approved the Environmental Impact Assessment ("EIA") and the Environmental Management Plan ("EMP") for the Company's 100% owned Dukwe Project. Approval of the EIA and EMP is a significant milestone in the development of the Dukwe Project as it is a precursor to the granting of surface rights, water abstraction permits and the definitive mining licence, all of which are expected shortly.

Project development is accelerating based on permission granted by the Government of Botswana to commence surface works. The Company is currently concentrating on surface water control structures, plant terracing, placing a power line to the water bore field and commencing pipeline construction to the plant area.

Joseph Hamilton, Chief Operating Officer of the Company and a "qualified person" (as such term is defined in National Instrument 43-101), stated that, "We are very pleased with the way the Dukwe Project is progressing and the co-operation and support we have received from the various government departments in Botswana. The approval of the EIA and EMP provides further tangible proof of this support, and we eagerly anticipate the timely issuance of the mining licence. The project remains on-track for first concentrate production the first half of 2008."

African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development company. African Copper is planning to develop its first copper mine at the Dukwe Project and 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 on-going 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.

Additional information with respect to the Dukwe Project and the Matsitama exploration concession is contained in a technical report dated March 30, 2006 prepared by A.C.A. Howe International Limited and entitled "Technical Report on the Dukwe Copper Project and Matsitama Prospecting Licences, Botswana, Africa". A copy of this report can be obtained from SEDAR on www.sedar.com.

This document contains or refers to forward-looking information, including statements regarding potential mineralization and resources, exploration and mine development activities and plans, timing of governmental approvals and 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, capital and operating costs varying significantly 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
    David Jones
    +44 (0)20 7321 3721
    or
    African Copper Plc
    Joseph Hamilton
    +44 (0)20 7321 3721
    Website: www.africancopper.com
    or
    Numis Securities Limited (NOMAD)
    John Harrison
    +44 (0)20 7776 1590
    or
    Numis Securities Limited (NOMAD)
    James Black
    +44 (0)20 7776 1590
    or
    Parkgreen Communications
    Justine Howarth
    +44 (0)20 7493 3713
    or
    Parkgreen Communications
    Ana Ribeiro
    +44 (0)20 7493 3713