May 2014
MODERN MINING
11
MINING News
ASX-listed Tiger Resources reports it has
welcomed MCK Trucks sprl as a share-
holder of the company. MCK has been the
mining contractor at Tiger’s Kipoi copper
project in Katanga in the DRC since the
company started producing copper con-
centrate at Kipoi in May 2011.
MCK, a local DRC-based company,
approached Tiger about becoming a
shareholder. Tiger issued 35,6 million
shares to MCK at $0,36 per share, with pro-
ceeds to be settled through the provision
of mining services for the Stage 2 solvent
extraction/electro-winning (SX/EW) opera-
tion at Kipoi.
Construction of the Stage 2 SX/EW
plant commenced in January 2013 and
the overall project was 92 % complete
at the end of March 2014. According to
Tiger, the project remains within budget
and ahead of schedule, with first produc-
tion and sales of copper cathodes due in
Q2 2014. The feasibility study for Stage 2
has confirmed the operation as a low-cost,
high-margin project capable of producing
532 100 tonnes of copper cathode over
11 years, processing ore reserves from
the Kipoi Central, Kileba and Kipoi North
deposits and HMS reject floats, slimes and
medium and low grade ore stockpiles from
the Stage 1 HMS operation.
Comments Tiger MD Brad Marwood:
“Having MCK on our share register dem-
Mining contractor takes share in Tiger Resources
Tiger’s Kipoi Stage 2 project. Material from the HMS floats stockpile – containing 38 500 tonnes of copper
– is now being stacked onto the heap leach cells (photo: Tiger Resources).
onstrates the confidence and support
we’ve got from the local community and
strengthens our in-country relationships.
Our alliance with MCK will reduce the
development cost for the next phase of
works whilst maintaining a presence at
site of a key contractor who has been an
integral part of our success story to date.”
