Anvil Mining (AVM)

Shares / Stock Code

AVM

Stock Exchange / Sharemarket

ax

Anvil Mining (AVM) is a mineral exploration and production company. Its principal projects are the Dikulushi copper-silver mine, the Kinsevere copper mine, and the Kulu copper tailings operation in the Katanga Province of the Democratic Republic of Congo. Anvil is dual listed on the Toronto Stock Exchange and the Australian Securities Exchange. Anvil is a division of the S&P/TXX Global Mining Index. It listed on the ASX on 3rd June, 2004. At present, AVM’s produces copper and silver concentrate from the high-grade Dikulushi mine and copper concentrates from the Kulu copper tailings retreatment operation and the new Kinsevere mine, which was commissioned mid-2007. AVM carried out an updated feasibility study for the Stage II 60,000 tons per annum capacity solvent extraction and electrowinning (SX-EW) development at Kinsevere in February 2008.

Currently the Company is actively involved in the expansion of Kinsevere with the construction of a 60,000 tonnes of copper per annum SX-EX copper processing plant with an expected capital expenses of about $380 million in order to carry out more downstream processing and maximizing the value to the Company's products. Anvil is a low- to medium-cost copper producer which aims at providing maximum shareholder returns through the responsible and profitable expansion of its primary copper business. AVM intends to achieve this by optimizing copper production from its current pipeline of mines and projects through multiple development phases. Anvil's medium-term goal is to become a mid-tier copper miner, gaining a targeted production of over 100,000 tonnes of copper per year, with a significant proportion in the form of cathode copper. In 2007, Anvil had a staff of over 2,550 people with sales revenue of worth $263 million.

Anvil Mining History

Anvil Mining is a leading copper producer in the Democratic Republic of the Congo, one of Africa’s most challenging countries. The Company’s global Copper resources for the three major projects exceed 2.3Mt. Its production for 4Q07 was 16,878t of copper and 0.72Moz of Ag. Revenue, net income and cash flow were all quarterly records of US$79.3M, US$21.7M and US$47.2M, respectively. Anvils operating cash flow in year 2007 was US$123.3M.