Simba and Rockbury Angolan copper mines have US$305 million potential

14 February 2006

Luanda, Angola, 14 Feb – The copper mining projects of Simba Mines and its partner Rockbury in Angola and the Congo have estimated potential revenue of US$305 million, a report published by the companies Tuesday said.

The report, written by mineralogist Michael Smith, concludes that in the Cachoeiras de Binga area, in the Cuanza River basin, the area in which the companies have a concesion, has reserves of around 57 million metric tons of copper ore.

US company Simba Mines has a stake of around 40 percent in this development area.

The remaining two projects in Angola – Benguela and Zenza – “contain an extensive area of copper ore of the same kind found in Cachoeiras de Binga,” the report said.

In Manga, in the Democratic Republic of the Congo, copper and cobalt reserves total 59.9 million metric tons, according to the same report.

Recently, a Simba Mines announced it was merging its mining activities with Rockbury Properties, in order to take advantage of high copper prices on the international market. (macauhub)