Freeport-McMoRan 2013 Annual Report Download - page 16

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AFRICA MINING
Through its subsidiary, Tenke Fungurume Mining S.A.R.L. (TFM), FCX operates the copper
and cobalt mining concessions in the Tenke Fungurume minerals district in the Katanga
province of the Democratic Republic of Congo.
TFM completed a second phase expansion project in early 2013, which included optimizing
the current plant and increasing mine, mill and processing capacity. The expanded mill has
performed well, with throughput rates averaging 14,900 metric tons of ore per day during 2013,
compared with original design capacity of 14,000 metric tons of ore per day. The addition of a
second sulphuric acid plant is expected to be completed in 2016.
FCX continues to engage in exploration activities and metallurgical testing to evaluate the
potential of the highly prospective Tenke Fungurume minerals district. These analyses are
being incorporated into future plans for potential expansions of production capacity.
Consolidated sales from Africa mining totaled 454 million pounds of copper (at an average
realized price of $3.21 per pound) and 25 million pounds of cobalt (at an average realized
price of $8.02 per pound) in 2013, compared to 336 million pounds of copper (at an average
realized price of $3.51 per pound) and 25 million pounds of cobalt (at an average realized
price of $7.83 per pound) in 2012. Higher copper sales volumes in 2013 primarily reflected
increased mining and milling rates from the second phase expansion and higher ore grades.
AFRICA COPPER RESERVES
8.0 billion consolidated lbs
OPERATIONAL OVERVIEW
100% Tenke Fungurume
Minerals District
Photos: (Left) Mineral sample from Tenke Fungurume minerals district,
(Right) TFM’s Kwatebala mine and processing plant in the Democratic Republic of Congo
14