Welcome To The Equinox Minerals HUB On AGORACOM

Copper and Uranium mine in S. Africa

Equinox Minerals Profile
Equinox is an international exploration and mine development company actively exploring for base metals, gold and uranium in Zambia, Africa and with interests in Australia and Peru. The Corporation's shares are listed in Canada on the Toronto Stock Exchange and on the Australian Stock Exchange under the symbol "EQN". The Company?s primary focus is the development of the Lumwana Copper Project in Zambia ? the world?s fastest growing copper exporting country. Situated 220 km northwest of the world renowned Copperbelt, Equinox owns 100% of Lumwana. This is a project of recognized international scale for which the Company is fully funded and in construction. Project financing arrangements in place include a US$583.8 million debt facility, a US$49.0 million cost overrun facility, and equity totalling some US$427 million. With proven and probable reserves totalling 321 million tones of ore grading at 0.73% copper, Lumwana represents one of the largest fully permitted copper projects in the world currently under construction and the largest new mining project seen in Zambia in 40 years. The project is expected to process 20 million tonnes per year of ore to produce copper concentrates containing an average of 169,000 tpa (373 million lbs/year) of copper metal over the initial six year period and an average of 122,000 tpa (269 million lbs/year) of contained copper metal over the life of mine (37 years). For the first 5 years, 100% of all scheduled Lumwana production has been contracted to firm ?take and pay? contracts with Zambian smelters. Lumwana construction activities commenced in January 2006 and remain on schedule under a fixed-price, fixed-term EPC contract. Mine commissioning is expected during the second quarter of 2008. Equinox is progressing towards its objective of operating Africa?s largest copper producing mine and of transforming the Company into a mid-tier copper producer.
Last changed at 19-Feb-2009 04:34AM by AGORACOM