OVERVIEW

The Varvarinskoye Mine and Process Plant is being built by SENET and commissioning is expected to commence in August 2007. The plant is designed to treat two ore types in parallel processes. A low-grade stream will be treated by milling, cyanidation, carbon-in-leach and ZADRA desorption. The high-grade ore will be treated by milling and flotation to recover a copper-gold concentrate, and flotation residue will join the low-grade ore in the cyanide leach.

The Varvarinskoye Plant will treat 3 million tonnes per annum of low-grade ore (< 0.2% Cu; 2 ppm Au) and 1.2 million tonnes per annum of high-grade ore (1.5% Cu; 2.7ppm Au).

The plant is designed to operate continuously at optimum efficiency and is also designed with a high level of process control to enable limited operating manpower at all times. All unit process equipment except the crusher and three leach tanks will be contained in a cladded building for protection against the harsh winter conditions which prevail in Kazakhstan.