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Amended Technical Report for Kamoto Copper Company Kolwezi, Katanga Province, Democratic Republic of the Congo

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Amended Technical Report for Kamoto Copper Company Kolwezi, Katanga Province, Democratic Republic of the Congo Kamoto Copper Company AMENDED TECHNICAL REPORT FOR KAMOTO COPPER COMPANY KOLWEZI, KATANGA PROVINCE, DEMOCRATIC REPUBLIC OF THE CONGO PREPARED FOR KATANGA MINING LIMITED Compiled by: McIntosh RSV LLC Qualified Persons: Dr. Scott Jobin-Bevans, P. Geo.; CCIC Mr. Malcolm Paul Lotriet; Pr. Eng., FSAIMM; RSV Mr. Christian Heili, Pr. Eng., FSAIMM; Hatch Mr. Adriaan Meintjes; SRK Mr. Alan Naismith; SRK Date: June 23, 2006 Kamoto Copper Company AMENDED TECHNICAL REPORT KAMOTO REDEVELOPMENT PROJECT Contents 1.0 TITLE PAGE 2.0 CONTENTS 3.0 SUMMARY .............................................................................................................................10 3.1 Background....................................................................................................... 10 3.2 Property ............................................................................................................ 10 3.3 Geology ............................................................................................................ 11 3.4 Reserves and resources................................................................................... 11 3.5 Operations ........................................................................................................ 14 3.6 Financial summary............................................................................................ 16 3.7 Recommendations............................................................................................ 18 4.0 INTRODUCTION ....................................................................................................................19 4.1 Technical Report preparation............................................................................ 21 4.2 Purpose for which the Report was prepared..................................................... 24 4.3 Sources of information...................................................................................... 25 4.4 Scope of the personal inspection of the Property ............................................. 26 5.0 RELIANCE ON OTHER EXPERTS .......................................................................................28 6.0 PROPERTY DESCRIPTION AND LOCATION......................................................................29 6.1 The area of the Property................................................................................... 29 6.2 Location ............................................................................................................ 29 6.3 Type of mineral tenure...................................................................................... 29 6.4 The nature and extent of title ............................................................................ 31 6.5 Property boundaries ......................................................................................... 32 6.6 Royalties and rights .......................................................................................... 33 6.7 Environmental liabilities .................................................................................... 33 6.8 Permitting ......................................................................................................... 34 7.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY............................................................................................................................34 7.1 Topography, elevation and vegetation.............................................................. 34 7.2 Means of access to the Property ...................................................................... 35 7.3 Proximity of the Property to a population centre ............................................... 35 7.4 Climate ............................................................................................................. 36 7.5 Local resources and infrastructure.................................................................... 37 8.0 HISTORY................................................................................................................................38 8.1 Prior ownership of the Property ........................................................................ 39 8.2 Exploration and development work undertaken by UMHK and Gécamines...... 40 8.3 Historical mineral resource and mineral reserve estimates .............................. 40 File reference - 701-001-01-0000-00-CM-0010 Page 2 of 204 Kamoto Copper Company AMENDED TECHNICAL REPORT KAMOTO REDEVELOPMENT PROJECT 8.4 Historical production from the Property............................................................. 42 9.0 GEOLOGICAL SETTING.......................................................................................................45 9.1 Regional ........................................................................................................... 45 9.2 Tectonic setting................................................................................................. 47 9.3 Basement to the Katangan Basin ..................................................................... 48 9.4 Katangan Basin ................................................................................................ 48 9.5 Depositional setting .......................................................................................... 50 9.6 Local (to sub-regional) geology......................................................................... 50 9.7 General stratigraphy ......................................................................................... 52 9.8 Property geology............................................................................................... 57 10.0 DEPOSIT TYPES ...................................................................................................................62 10.1 Mineral deposit type being investigated............................................................ 62 10.2 Geological model.............................................................................................. 62 11.0 MINERALIZATION.................................................................................................................66 11.1 Geological controls on mineralization ............................................................... 67 11.2 Source of the copper metal............................................................................... 67 11.3 Mineralization models ....................................................................................... 68 11.4 Supergene enrichment ..................................................................................... 69 12.0 EXPLORATION......................................................................................................................69 13.0 DRILLING...............................................................................................................................69 13.1 Kamoto Mine..................................................................................................... 70 13.2 DIMA................................................................................................................. 70 13.3 Musonoie – T17 West....................................................................................... 71 14.0 SAMPLING METHOD AND APPROACH..............................................................................71 15.0 SAMPLE PREPARATION, ANALYSES AND SECURITY....................................................71 15.1 Sample curatorship........................................................................................... 71 15.2 Sample preparation .......................................................................................... 72 15.3 Preparation for analysis .................................................................................... 72 15.4 Quality control................................................................................................... 73 15.5 Quality control measures .................................................................................. 73 15.6 Adequacy of sample preparation ...................................................................... 73 16.0 DATA VERIFICATION ...........................................................................................................73 16.1 Quality controls................................................................................................. 74 17.0 ADJACENT PROPERTIES....................................................................................................75 18.0 MINERAL PROCESSING AND METALLURGICAL TESTING.............................................76 19.0 MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES ........................................77 File reference - 701-001-01-0000-00-CM-0010 Page 3 of 204 Kamoto Copper Company AMENDED TECHNICAL REPORT KAMOTO REDEVELOPMENT PROJECT 19.1 Database .......................................................................................................... 77 19.2 Geological interpretation................................................................................... 79 19.3 Density determination ....................................................................................... 82 19.4 Univariate Statistics .......................................................................................... 84 19.5 Variography ...................................................................................................... 87 19.6 Block modelling................................................................................................
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