Corporate

Anvil Mining (AVM on TSX and ASX) produced in 2008 41,354 tonnes of copper and over one million ounces of silver from its 3 mines located in the Democratic Republic of Congo (DRC) in Central Africa.

Kinsevere Stage II SX-EW - Our future flagship

The major focus in 2008 was without doubt the construction of Stage II, a 60,000 tonne-per-year copper SX-EW plant at Kinsevere, in which we have a 95% indirect interest.  We have spent or committed $190 million to date, nearly 50% of the budget and construction was about 40% complete when we took the decision to put the project on standby pending the financing required to secure the full completion of construction through to start-up.  The finalisation of this expension will enable the Company to significantly reduce its unit production costs and to be very competitive at current copper prices.  We are still awaiting financing and are pursuing discussions with financiers for a line of credit of potentially more than $200 million.