AFRICA — NEWS ROUNDUP — Crew acquires copper mine smelter

Through an operating arm in South Africa, Vancouver-based Crew Development (CRU-T) has acquired an 81.47% interest in the O’okiep copper mine smelter in northwestern Cape Province.

O’okiep comprises a copper mine and smelter, together with mineral rights to 150,000 ha. The mine currently produces 15,000 tonnes of copper per year, and the smelter has an annual capacity of about 35,000 tonnes. Crew notes that, in order for the smelter to operate at full capacity, between 40,000 and 50,000 tonnes of toll or custom concentrates will have to be procured each year. The company adds that the operation, which was acquired for $7.2 million, remains profitable at current copper prices.