Recovering African Copper to rekindle Mowana Mine

The UK miner suspended mining activities at Mowana Mine last year, citing numerous operational challenges as well as the need to focus on the higher grade available at Thakadu.The decision bore fruit for the Botswana Stock Exchange-listed company as it recorded an operating profit from its mining operations of US$13.7 million (P117 million) for the full year to March 2013, from a loss of US$4.6 million (P39.3) in the previous period.

"This has been an overall strong year for African Copper," said chairman, David Rodier, in a statement accompanying the financial results."The company increased its production levels and recovery rates, and generated an operating profit from its mining operations, while significantly reducing its overall net loss."We are not yet free of all our operating challenges but in the context of our operations at the Thakadu pit, we have well founded expectations that their magnitude and impact will continue to diminish."