SOURCE: Cupric Canyon Capital

Cupric Canyon Capital

June 05, 2017 02:00 ET

Cupric Canyon Capital Announces the Appointment of Johan Ferreira as Head of African Operations and Managing Director

SCOTTSDALE, AZ--(Marketwired - June 05, 2017) - Cupric Canyon Capital ("Cupric") is pleased to announce the appointment of Johan Ferreira as Head of African Operations and Managing Director of Khoemacau Copper Mining ("Khoemacau" or "the Company"). Mr. Ferreira will lead the development of the Khoemacau copper/silver project in Botswana with construction beginning towards the end of this year. Initial production from the new mine will average 50,000 tonnes of copper and 1.4 million ounces of silver per year over a mine life that exceeds 25 years. Future expansions are expected to increase annual production to over 100,000 tonnes of copper and 3 million ounces of silver.

Mr. Ferreira began his mining career with Anglo American in 1986, and from 2005 to 2011 he was General Manager of the Moab Khotsong and Great Noligwa Gold Mines. Subsequently, he was appointed Senior Vice President, South Africa Operations for AngloGold Ashanti. In 2014, he accepted an opportunity in Ghana with Newmont Mining Corporation as Regional Group Executive Operations, and was soon promoted to Regional Senior Vice President - Africa Region, assuming executive responsibility for that region. While in Ghana, Mr. Ferreira was president of the Ghana Chamber of Mines and a director of the American Chamber of Commerce. He holds a Bachelor of Engineering (Mining) degree from the University of Pretoria and several other professional certifications and diplomas.

Dennis Bartlett, Cupric's Chief Executive Officer, said, "We are excited to welcome Johan to the Cupric team. He is a highly experienced and accomplished mining executive who brings the underground mining expertise necessary to transition the project from studies to mine development and operations. Johan is assuming the role previously held by Sam Rasmussen, who completed his three-year contract in December. Sam was instrumental in leading our efforts to complete not only the resource drilling campaign and feasibility study, but also to obtain the Khoemacau mining license. We wish Sam all the best in his future endeavors."

Background

Cupric's Botswana subsidiary, Khoemacau, is developing the Starter Project at its Khoemacau copper/silver project in the Kalahari Copper Belt of northwest Botswana. The Starter Project involves the development of a new large scale mechanised underground mine at the Company's flagship Zone 5 deposit. Ore will be treated at the existing Boseto process plant which is located 35 kilometers to the northwest. This Starter Project will produce 50,000 tonnes of copper and 1.4 million ounces of silver in concentrate per annum, with unit costs in the first quartile of the global production cost curve. The Company's medium-term development strategy envisages that the Expansion Phase on Zone 5, along with development of other resources nearby, would increase production to over 100,000 tonnes per annum of copper in concentrate. The Company controls 4,040 square kilometers of mining and prospecting licenses which host total mineral resources in excess of 6.5 million tonnes of copper.

About Cupric

Cupric was formed in 2010 with a goal to acquire undeveloped copper assets with a known resource. The management of Cupric consists of former executive, technical, financial, and operational leadership of major mining companies, including Phelps Dodge Corporation (and its successor, Freeport McMoRan Copper & Gold Inc.), bringing together decades of experience in the exploration, development, construction and operation of world-class open pit and underground mines.

Contact Information

  • For further information, contact:
    Rodney A. Prokop
    Chief Financial Officer
    Cupric Canyon Capital
    Scottsdale, Arizona USA
    Tel: +1 (480) 607-6771
    Email: Email contact

    Website: www.cupriccanyon.com