Commenting, Anvil President and CEO Darryll Castle said:
"Despite the technical difficulties we've experienced during
the build-up of production at Kinsevere, I'm pleased with the
progress we have made during 2011. The current efficiency in
the tank-house is now close to design specifications and
further improvements are expected in January and February as
planned equipment improvements are implemented. These
achievements have helped to mitigate some of the short-term
technical difficulties we've experienced."
The Kinsevere plant's electrowinning tank-house was
commissioned earlier in 2011 with four installed transformers
and one on-site spare. From the start of commissioning and
during the plant's ramp-up in 2011 continuing technical
difficulties were experienced with these transformers. Power
interruptions in the Democratic Republic of Congo,
particularly during December 2011, further impacted the
production build-up.
Kinsevere is currently operating on two-and-a-half of its
four required transformers. In order to resolve the technical
difficulties and mitigate production risk, the Company is
working with specialist consultants and contractors to repair
failed transformers where possible, and procure new units of
a higher specification and improved design. A recently
refurbished transformer has been operating without incident
and we commenced a process in the third quarter which will
result in the replacement of all the transformers. Due to the
lead time to acquire replacements, the Company expects the
process will be completed towards the end of the first
quarter 2012, when we plan to have in operation four new
transformers in addition to the two standby units which are
currently operational and which will be held as backup.
Anvil Mining Limited is a copper producer whose shares are
traded on the Toronto Stock Exchange (as Common Shares) and
the Australian Securities Exchange (as CDIs) under the symbol
AVM.
President & CEO Vice President Corporate Affairs
Tel: +27 (11) 750 6876 Tel: (Office) +1 (514) 448 6664,
(Cell) +1 (514) 944 9036
Email: darryllc@anvilmining.comEmail: robertl@anvilmining.com
(Johannesburg) (Montréal)
This news release contains "forward-looking statements" and "forward-looking information", based on assumptions and judgments of management regarding future events and results. Such "forward-looking statements" and "forward- looking information which may include, but is not limited to, the expectation of a successful ramp-up to full production at the Kinsevere Project. Many of these assumptions are based on factors and events that are not within the control of Anvil and there is no assurance they will prove to be correct. Often, but not always, forward-looking information can be identified by the use of words such as "intends" (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "would", or "will" be taken, occur or be achieved. The purpose of forward-looking information is to provide the reader with information about management's expectations regarding the ramp-up to full production at the Kinsevere Project. Readers are cautioned that forward- looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Anvil to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward- looking information will prove to be accurate. Accordingly, readers should not place undue reliance on forward looking information.
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