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Foundry Daily News

20. March 2007

Lafayette Philippines

to ship copper, zinc concentrate in April

Lafayette Philippines Inc. will export its first shipment, comprising 5,000 metric tons of copper and zinc concentrate, next month following the resumption of its commercial operations in February, a company official said Monday.

The shipment comprises 2,000 tons of copper concentrate and 3,000 tons of zinc concentrate, company spokesman Bayani Agabin said.

"The shipment will probably go to China. We have an off-take agreement with LG (Collins of Korea) and the destination is up to LG to determine," Agabin said.

"We've begun to ramp up production and our processing plant is now running on 90 per cent capacity," Agabin said. "We're keeping our full year production target."

Lafayette resumed commercial mining only in early February after halting operations since November 2005 due to two separate incidents of cyanide spills at its mine site on Rapu Rapu island, central Philippines.

Lafayette's Rapu Rapu Polymetallic project started commercial production in July 2005, producing copper, gold and zinc.

The company plans to export an equivalent of 18,000 tonnes of copper this year, Alfredo Non, president of Rapu Rapu Minerals, which runs the Lafayette mine, said on February 5.

Lafayette Philippines is a unit of Australia's Lafayette Mining Ltd.

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