Business
ICS finds JV partner
ABBOTSFORD, BC, Sept. 10 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is pleased to announce that ...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, Sept. 10 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is\npleased to announce that it has signed a Heads of Agreement with two Zambian\ncompanies that have a strategic relationship with each other, namely JV Civils\nLtd ("JVC") and Chantete Emeralds Ltd ("Chantete"). The principal operations\nof these companies encompass bulk earthworks, plant hire, material\ntransportation, crushing and material handling mainly on the Zambian\nCopperbelt.\n\n\nHighlights of the agreement are:\n\n- JVC/Chantete to finance the cost of installation of ICS's 270 cell\n EMEW plant in Zambia.\n- JVC/Chantete to advance USD 150,000 to ICS.\n- JVC/Chantete to supply ore feed to ICS's EMEW plant. JVC/Chantete has\n purchased concentrating equipment with the capacity to produce up to\n 6,000 metric tonne of a copper and cobalt concentrate per month and\n is committed to having the first plant commissioned within four\n months of the date of this agreement. Ore with a minimum grade of 10%\n copper will be supplied. The potential exists to install similar\n concentrators on five other targeted sites with a capacity to deliver\n in excess of 18,000 metric tonnes per month within an 18 month\n period.\n- JVC/Chantete to be paid for this concentrate feed on a cost per tonne\n basis.\n- ICS to be paid a monthly "processing" fee covering owning and\n operating costs of the plant.\n- ICS to attend to the preparation of an Environmental Preliminary\n Brief (EPB) and Environmental Impact Assessment (EIA).\n- ICS to supply off-take agreements for the onward sale of the finished\n copper and cobalt products.\n- ICS and JVC /Chantete will share profits from the JV on a 50/50\n basis.\n\nICS to undertake feasibility study for the installation of a larger SXEW\nplant possibly with the capacity to process 6,000 to 18,000 tonnes per month\nof copper concentrate with minimum grades of 10% copper. If this study is\npositive and indicates acceptable returns ICS will undertake the financing of\nthis project.\n\nAbout JVC\n---------\n\nJVC is a leading contracting company on the Zambian Copper Belt. JVC's\ncore competencies include:\n\n- Open pit mining: JVC mines and hauls in excess of 1,000,000 tonnes\n per month;\n- Bulk material handling: JVC can operate up to 14 separate contracts\n concurrently;\n- Crushing solutions:...