| Tue 22 May 2012, 15:00 | | ZCI - ZCI Limited - Failure of the ball mill pinion shaft at the Mowana Mine |
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ZCI
ZCI
ZCI - ZCI Limited - Failure of the ball mill pinion shaft at the Mowana Mine
ZCI Limited
(Bermudian registration number 661:1969
(South African registration number 1970/000023/10)
JSE share code: ZCI ISIN: BMG9887P1068
Euronext share code: BMG9887P1068
("ZCI")
FAILURE OF THE BALL MILL PINION SHAFT AT THE MOWANA MINE
ZCI`s major subsidiary, African Copper Plc ("ACU" or the "Company") announces
the failure of the Ball Mill pinion shaft at the Company`s Mowana Mine facility
in Botswana on Sunday, 20 May 2012. The failure and resultant damage has
rendered the Ball Mill inoperable until a replacement is installed and has
resulted in the immediate cessation of the production of copper concentrates.
Prior to the incident, the mill was running normally at 135tph. The pinion shaft
was due for replacement in early June 2012, with a replacement ordered ten
months earlier. The new pinion shaft was due to be delivered on 5 June 2012 and
management are currently investigating the possibility, with the supplier, for
earlier delivery. Due to the long lead time for taking delivery of the pinion
from the manufacturers, it is expected that the Mill will be out of operation
for a minimum of 12 days. Management also intends to replace the Mill gearbox
and liners during the replacement of the pinion.
All other mining activities, including drilling, load and haul, and ore
transportation are expected to continue to plan. The crushing sections at the
Mowana Mine facility will continue running with the aim of filling both the
coarse and fine product stockpiles with the higher grade Thakadu ore, with a
view to building the ore stockpiles in front of the Mill. This will allow the
plant to run at a higher throughput once the Mill is repaired. Some contractors
whose equipment has not been performing to expectation will, in the meantime, be
required to stop activities so that they can maintain their equipment in
preparation for higher productivity when the Mill restarts.
A further announcement will be made in due course, once management can confirm a
restart date and quantify the financial effects of the incident. For further
information please visit www.africancopper.com
Bermuda
22 May 2012
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 22/05/2012 15:00:02 Produced by the JSE SENS Department.
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