Operations

Anvil is building a portfolio of world class assets in the DRC. Three key operations and a program of exploration and development projects have created a platform for growth.

Operations

Kinsevere - is set to become the flagship of Anvil’s DRC operations. Stage I began production in June 2007 with the Heavy Media Separation plant ("HMS"). Kinsevere produced 22,858 tonnes of copper in 2008.

Dikulushi - produced 11,047 tonnes of copper and 1,095,801 ounces of silver in 2008 from its operation near Lake Mweru in Katanga.  Due to high operating cash cost and low copper price environment, the Dikulushi mine has been placed on Care and Maintenance in Q4 2008.

Mutoshi Stage I HMS - is a tailings re-treatment operation based on coarse reject material from the former Mutoshi mine near Kolwezi. Mutoshi produced 9,617 tonnes of copper in 2008.  The preparation of an engineering cost study for the construction of a SX-EW processing facility at Mutoshi will be completed in the coming months.

The Mutoshi mine has also been placed on Care and Maintenance.

Development Projects

Kinsevere - Stage II will incorporate a solvent extraction and electrowinning (SX-EW) processing plant to produce 60,000 tonnes a year of pure cathode copper. Construction of the $380 million Stage II commenced in the second half of 2007.

In Q4 2008, as a result of a large decline in the copper price, uncertainty regarding the Company's ability to access funding and operational difficulties, the Company placed the Kinsevere Stage II SX-EX development on hold until additional finance becomes available and there is greater certainty in global financial and commodity markets.

The Company remains committed to the development of its Stage II 60,000 tonnes per year SX-EW plant at Kinsevere and is reviewing suitable arrangements under which construction works could recommence as quickly as possible should the necessary funding be secured.  The Company continues to make progress in obtaining the required funding for recommencement of the development of Kinsevere Stage II with an update of the previously completed technical due diligence report underway, which when completed will form the basis for financiers to seek credit approval for provision of a debt facility to the Company.  It is anticipated that this process will take approximately two to three months before credit approval could be obtained.

Key exploration projects

Mutoshi – One of the great African copperbelt mining locations, where Anvil’s exploration and resource assessment programs aim to identify a resource of half a million tonnes of copper.

The formula for success

Anvil’s success is built on five key factors

Consolidated Mineral Reserves