ICS Copper Systems Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
|| #202, Yale Court Plaza
2526 Yale Court Road
Canada V2S 8G9
|| (604) 859-3007
|| (604) 859-3008
|| Jeannette Durand
|| Corporate Secretary
|52 Week High:
|| $ 0.57
|52 Week Low:
|| $ 0.01
ICS Copper Systems Ltd. ("ICS") is a publicly listed Canadian based mineral resource company focused on generating cash flow from copper and cobalt production in Zambia and the Democratic Republic of Congo ("DRC"), Africa. ICS owns an EMEW copper electrowinning plant currently stored in Zambia. Profitable EMEW copper and cobalt production will provide cash flow for corporate expansion and exploration.
PROJECT IN HAND
Central African Copper Belt
ICS's projects are located in the Central African Copper Belt, which covers the southeast portion of the DRC and extends into Zambia. This prolific copper region contains over 10% of the world's copper reserves and 34% of the world's cobalt reserves. Production from the Copper Belt is currently over 1 million tonnes of copper per annum and growing. Zambia is the world's largest cobalt producer supplying 20% of the world's cobalt. The Copper Belt remains significantly under explored with the potential to find new major copper and copper/cobalt discoveries.
ICS EMEW Copper Electrowinning Plant
ICS owns $2.6 million of EMEW copper electrowinning plant and equipment which is on site in the town of Kalulushi in Zambia. The EMEW process plant is capable of producing 500 tonnes of copper and 100 tonnes of cobalt per annum, with the potential to increase to 1,000 tonnes per year. The Kalulushi site has access to power, water and buildings and is permitted for the use of sulphuric acid on-site. The Kalulushi site also has five arc furnaces that can be renovated for use which will add 500 tonnes per annum of a smeltered copper product. Feed to be sourced from ICS owned mining concessions and third parties. ICS is now targeting production in the late 2009, early 2010. ICS can export high grade copper/cobalt and manganese ore.
ICS believes that it can economically and profitably process local copper and cobalt ore from Zambia and the DRC with its EMEW plant which will then provide strategic cash flow for corporate expansion and exploration.
ICS is reviewing two of its current exploration arrangements in the DRC and Zambia for the potential to provide feed ore to its EMEW plant: the ATJ Memorandum of Understanding and the Karukuruku Concession Joint Venture. Both sites have known copper mineralization and easily accessible visible copper ore at surface.
(1) ATJ Memorandum of Understanding - Luapula Province, Northern Zambia
On March 4, 2009, ICS signed a Memorandum of Understanding with ATJ Natural Resources AG (ATJ) of Belize
for the creation of a strategic partnership to explore a minimum of 4,000 sq.km of licence areas held by ATJ through its majority owned company Alfa Mines Limited ("Alfa") in the Luapula Province in northern Zambia. In addition to the 4,000 sq.km Alfa will include in the Joint Venture a further 1,000 sq.km held under a separate licence. These licence areas contain known copper mineralization.
ICS has also acquired a 49% equity position in a Zambian company, which has rights to a 1,000 hectare (10 sq.km) Prospective Permit within the Luapula area.
ICS is reviewing the potential for processing ore from these concessions with its EMEW plant. Once production has been established, ICS plans to conduct a geological exploration program over the ATJ licences.
(2) Karukuruku Concession Project, Katanga Province, DRC
On March 4, 2008, ICS signed a Joint Venture Agreement with Cooperative Miniere Maadini Kwa Kilimo ("CCMK") to develop the Karukuruku Concession located near the town of Kipushi, Katanga Province, DRC. Through the Joint Venture Agreement with CCMK, ICS has a 75% interest in the equity of the Karukuruku concession with an option to increase the ownership to 90%.
ICS has completed a site visit and noted extensive visible malachite on the surface of the concession and as well as very high grade cobalt from an artisanal pit. Due to the very high grade of ore, ICS believes that it will be economical to mine and concentrate the ore in the DRC and thereafter ship it to ICS's plant in Zambia. An inexpensive, manually operated series of water based concentrators would be sufficient to produce a shippable "concentrate".
ICS also has two other projects in the Central African Copper Belt: the Musoshi Tailings Project and the
(3) Musoshi Tailings Project, Katanga Province, DRC
On March 3, 2007, ICS signed a Letter of Intention for an 80% interest in the Musoshi Tailings concession located on the DRC border with Zambia where the road from Lubumbashi meets the Zambian border. The Musoshi Tailings are believed to contain over 20 million tonnes of tailings with a grade of 0.45% copper. ICS plans further due diligence to confirm tonnage and grade.
(4) Bayombwe Project, DRC
ICS has a 73.5% interest in a Joint Venture Agreement with Exacom Ltd., a DRC private company, to explore and to develop the Bayombwe property north of the town of Kolwesi, DRC. Initial reconnaissance and early stage trenching of the Bayombwe concession has identified limited potential for copper, cobalt and tantalum. Further work on this concession will be re-valuated next year.
Management & Directors
Graham Chisholm, A.C.I.S. , President, CEO, Director and Founder
Mr. Chisholm is a Chartered Secretary and is an Associate of the Chartered Institute of Secretaries (Canada, South Africa and Zimbabwe) and has over 26 years of experience in executive management, 15 of which were in financial management including a 4 year expatriate contract as Group Financial Executive of the Mobil Oil agency in Swaziland. Mr. Chisholm founded Industrial Copper Systems Ltd. and subsequently installed and produced copper and cobalt at a pilot plant in the DRC in 2005. Mr. Chisholm is a founder of ICS Copper Systems Ltd. He was born in Zimbabwe, is fluent in French and Shona (African dialect) and has significant experience in African culture.
Richard Molyneux, Chairman and Director
Mr. Molyneux has over 30 years of experience in the mining and exploration industry in Africa and Canada. Mr. Molyneux was appointed President and CEO of De Beers Canada Corporation in 2000, based in Toronto. During the six years that Mr. Molyneux held this position, approval was obtained for the construction of the Snap Lake and Victor Mines. He retired from De Beers in May, 2006.
David Fynn, Chief Financial Officer and Director
Mr. Fynn is a Chartered Accountant and since 1996 has been the principal of D.A. Fynn & Associates Inc., an accounting firm. Prior to 1996, Mr. Fynn worked as a senior manager with KPMG in Canada and Ernst & Young in the United Kingdom and Saudi Arabia.
Robert Sandford Stewart, Director
Mr. Stewart is an economist, financier, chairman and CEO of numerous mining and petroleum companies. Mr. Stewart started his career with Hudson's Bay Mining and Smelting Co. Ltd. and Sherritt International Corporation in the base and precious metal mines in Northern Manitoba.
Stephen Peter Gregory, Director
Mr. Gregory has 28 years of experience in the mining industry including 12 years with Anglo American Corporation in numerous production and technical management positions on large gold, nickel, copper and chromite operations.
Jeannette Durand, Corporate Secretary
On May 21, 2009, ICS Copper Systems Ltd. announced that it has acquired a 49% equity position in Luapula Mineral Ltd., a Zambian registered company which has legal title to a 1,000 hectare (10 sq.km) Prospecting Permit within the Luapula area which has known copper deposits.