AAF has strategic assets as the foundation for its future growth –
Nova Mining – Democratic Republic of Congo.
The mineral rich region of northern Zambia and the southern Congo province of Katanga is known as the ‘Copperbelt’. It has long been an area of mining exploitation by major international companies from colonial times to the present resurgence of interest, driven by an international metals boom. During the past 20-30 years, many international companies withdrew from the region because of political instability and unfavorable commercial policies towards foreign companies.
However, as political stability steadily returned to Congo from 2003, the investment climate has improved, creating opportunities for smaller mining companies such as AAF. The important factors leading to the success of this ‘high risk’ project was (a) a management team with strong local knowledge, (b) low process risk of smelter success using ‘in house’ technology and (c) financial support from committed investors.
From this initiative, the Nova Project began producing blister copper on 5 June 2004. The first campaign from #1 blast furnace produced 15 t of blister grade copper over 3 days, assaying 95% copper content. Since then, the furnace technology has been further developed to run 3 month campaigns, now running both units#1 and #2 concurrently.
Current production of blister grade copper is over 300 t/month, which is all sold to European refineries. Construction of additional furnaces at Nova is in progress, to expand copper metal production in stages, targeting 1,000 t/month by the end of 2007.
Current AAF Projects in Progress
Nova Mining Sprl (Congo) - Copper Smelter(Expansion) Project
Our sites are located in the
Congo and South Africa.
Our head office is located in
Perth, Western Australia
Statement of Main Corporate Governance Practices
The documents to the right, outline the principal corporate governance procedures of Austral Africa Resources Limited.
The Board of Directors (Board) supports a system of corporate governance to ensure that the management of Austral Africa Resources Limited is conducted to maximise shareholder wealth in a proper and ethical manner.
