Alexander Mining plc

June 07, 2012 06:30 ET

Alexander Mining plc-First Cobalt and Copper Metal Produced From Commissioning of AmmLeach® Copper/Cobalt Demonstration Pilot Plant

LONDON, UNITED KINGDOM--(Marketwire - June 7, 2012) - Alexander Mining plc (TSX VENTURE:AXD)(AIM:AXM) ('Alexander' or the 'Company') -

  • Successful commissioning of AmmLeach® copper/cobalt plant in South Africa has produced its first copper and cobalt cathode metal.
  • First AmmLeach® plant in the world with two circuits through to copper and cobalt cathode metal, compared with majority of Democratic Republic of Congo ('DRC') cobalt currently produced as a concentrate requiring further processing outside the DRC.

The DRC currently supplies over half of the world's annual cobalt mine production (98,000t), which has a current global value of around US$2.8 billion per annum. Alexander believes that its AmmLeach® process offers a clear competitive advantage for the production of cobalt through to metal cathode in the DRC, as well as offering a way to treat high-acid-consuming carbonate copper ores in the DRC that hitherto have been uneconomic to treat.

Martin Rosser, Chief Executive Officer, said: "We are delighted with the results of the commissioning of our AmmLeach® copper/cobalt demonstration pilot plant in South Africa. We look forward to building on the success as part of our current commercialisation activities for our AmmLeach® technology in the DRC Copperbelt."

Forward Looking Statements

This news release contains forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential results of AmmLeach® testwork, anticipated applications for the AmmLeach® processing and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at The Company disclaims any intention or obligation to revise or update such statements unless required by law.

Notes for editors

The AmmLeach® cobalt/copper process has particular relevance to the DRC which accounts for around 53% (52,000t) of world mine production in 2011 and 45% (3.4Mt) of world reserves (source: U.S. Geological Survey January 2012). Moreover, the majority of cobalt currently produced in the DRC is as an intermediate product. The AmmLeach® cobalt/copper process is simpler and requires fewer unit processes to produce cobalt and copper metal cathode, resulting in significantly reduced capital and operating costs compared to the conventional acid/SO2 process. Given the inherent high costs associated with operating within the DRC, using conventional technology, AmmLeach® has the potential to enable the processing of a significantly greater number of deposits that have to date been considered marginal or uneconomic to develop.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alexander Mining plc
    Martin Rosser
    Chief Executive Officer
    Mobile: + 44 (0) 7770 865 341

    Alexander Mining plc
    Matt Sutcliffe
    Executive Chairman
    Mobile: +44 (0) 7887 930 758

    Alexander Mining plc
    1st Floor, 35 Piccadilly
    London, W1J 0DW
    +44 (0) 20 7292 1300
    +44 (0) 20 7292 1313 (FAX)

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