10 kilometres from Lubumbashi

Ruashi Phase II project
Whilst the commissioning of the Ruashi Phase II plant has been delayed and project costs are higher than original estimates, the challenges and complexities of establishing a plant of this magnitude and technical advancement have been largely overcome. The ultimate plant at completion will be world class and the largest and most modern SX/Ew plant in the DRC.  The plant will be commissioned in modules commencing with the HG solvent extraction plant, followed by the cobalt plant, the front-end crushing plant and finally the acid plant.  Commissioning delays have resulted in copper and cobalt production of approximately 18 000 tons of saleable copper and 650 tons of contained cobalt in the forthcoming financial year. This will be achieved through a phased build-up. Thereafter, Ruashi II should produce at its design capacity of 45 000 tons copper and 3 500 tons cobalt per annum.  Mining operations are established in the first of the three pits with the opening of the second pit under way. Pit 2 is expected to produce higher grades than those of the first pit.

Competent Persons' Report (CPR) and Valuation of Ruashi Holdings (PTY) LTD and Ruashi Mining SPRL in the Democratic Republic of the Congo by Metorex Limited, January 2010

September 22, 2011 - The Competition and Consumer Protection Commission (CCPC) has granted conditional final authorisation to Glencore Investment for the acquisition of Sable Zinc Kabwe limited.  The CCPC board which sat on Monday this week held that the sale of Sable Zinc Kabwe currently owned by Metorex was not likely to lead to substantial lessening of competition in the local mining sector.

February 6, 2009 - South African miner Metorex has received an approval from the government of the Democratic Republic of Congo (DRC) in regards to its Ruashi and Miniere de Musoshi et Kinsenda units, it said on Friday.  The DRC government launched a review to renegotiate the conditions of the joint venture between Gecamines and Metorex and to reapportion respective stakes in Ruashi. The review process involved 61 mining companies in all. News of the agreements reached with the government are starting to trickle into the market.  As a result of the review, Metorex will hold a 75 percent stake in the joint venture and Gecamines the remaining 25 percent, from 80 and 20 percent respectively.  Metorex will have to pay a $4 million mineral content fee to Gecamines, to be settled in several tranches over the next three years, along with a royalty fee of 2.5 percent on the joint venture's gross revenue.  The company also said the DRC authorities had approved its agreement with Sodimico and the Copper Resources Corporation (CRC) regarding the Miniere de Musoshi et Kinsenda project.  As a result, Metorex and CRC will jointly hold a 77 percent stake in the project, down from 80 percent previously, and Sodimco wil hold the remaining 23 percent.  Mineral content fee payments to Sodimico were set at $3 million, to be paid in several instalments spread over a three-year period until 2011. Royalties to Sodimco have been stadardised at 2.5 percent of gross revenue.  Shares in Metorex were down 0.8 percent at 2.38 rand by 0950 GMT, compared with a 2.4 percent stronger JSE All Share index.