DEMOCRATIC REPUBLIC OF THE CONGO — The Tenke Fungurume copper-cobalt project in the Katanga province has produced its first copper cathodes. Production will be ramped up over the next several months as the cobalt circuit and acid plant are completed. High-grade oxide ore will be treated during the early years to produce 115,000 tonnes of copper and 8,000 tonnes of cobalt annually.
The Tenke Fungurume project is owned 57.75% by Freeport-McMoRan Copper & Gold of Phoenix (the operator), 24.75% by Tenke Mining of Toronto, and 17.5% by Gecamines, owned by the government of the DRC.
The project is built on proven and probable reserves of more than 100 million tonnes grading 2.3% Cu and 0.3% Co. That will support the operation for at least 40 years. Additional facts about Tenke Fungurume are available at www.FCX.com/operations/tenke/fastfacts/Tenke%20fast%20facts%20overview%20draft.pdf.