Tiger Resources
Tiger Resources Limited is an Australia-based mining company with two active copper extraction projects in the Democratic Republic of the Congo (DRC). The company was listed on the Australian Stock Exchange in May 1997.[1] As of 2011 the company's market capitalization was about A$350 million.[2]
| Gold mining | |
| Traded as | ASX: TGS |
| Industry | Mining |
| Headquarters | , |
| Products | Copper |
| Website | www |
The Kipoi Mine has an inferred 306,000 tonnes of copper in high-grade ore. It is a joint venture between Tiger Resources (60%) and the state-owned Gécamines (40%). It was planned to start generating revenue in 2011.[2] Tiger invested more than $60 million to start the mine. By June 2011 Tiger was producing 25% copper concentrate at a rate of 130,000 metric tons a year. The company was considering using $250 million from cash flow to build a Solvent Extraction Electrowinning copper cathode plant, with capacity of 50,000 tons per year. Tiger Resources was negotiating to acquire a higher share of the operation from Gécamines.[3]
The Lupoto Mine is 100% owned by Tiger Resources. Maiden resource was planned for release in 2011.[2]
The European trading house Trafigura was the largest shareholder of Tiger Resources as of September 2011, owning 28% of the company. Trafigura also owned 35% of Anvil Mining, another DRC copper miner, whose sale to China's Minmetals Resources was announced in September 2011.[4]
References
- "TIGER RESOURCES LIMITED (TGS)". Australian Stock Exchange. Retrieved 2011-11-06.
- "Fact Sheet" (PDF). Tiger Resources. Retrieved 2011-11-06.
- Franz Wild (Jun 24, 2011). "Trafigura's Tiger Seeks to Raise Stake in Congo Copper Mine". Bloomberg. Retrieved 2011-11-06.
- Robin Bromby (September 30, 2011). "Bid for Anvil Mining puts Tiger Resources on M&A radar". The Australian. Retrieved 2011-11-06.