According to the Competent Person’s Report, as of December 31, 2011, our JORC compliant proved
and probable ore reserves were 57.6 Mt at an average grade of 1.29% copper and 122.2 Mt at an
average grade of 1.36% copper, respectively. Our measured, indicated and inferred mineral
resources were 61.3 Mt at an average grade of 1.48% copper, 155.6 Mt at an average grade of
1.69% copper and 210.2 Mt at an average grade of 1.75% copper, respectively. Our JORC
compliant total contained metal reserves were approximately 2,404.1 kt of copper and 92.7 kt of
cobalt. Our JORC compliant total contained metal resources were approximately 7,197.8 kt of
copper and 261.6 kt of cobalt. Year ended December 31,
2009 2010 2011
(US$’000) (US$’000) (US$’000)
China(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200,275 750,744 847,976
Europe(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 461,673 584,074 397,090
Africa(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,342 22,467 38,840
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 696,290 1,357,285 1,283,906Chambishi Southeast
Mine, which is expected to commence production in 2016 and which, based on our current plans,
will have an annual production capacity of 3,300 kt of ore upon its completion.As of December 31, 2011, we had ten large-scale mining licenses in Zambia covering an aggregate
area of approximately 218 sq km and one prospecting license covering an area of approximately
339 sq km.Mining license No. License type
Current
license holder
Commencement
date Expiration date
Minerals
granted
7068-HQ-LML(1) Large-scale mining
license
NFCA June 29, 1998 June 29, 2023 Copper, cobalt
and other minerals
7069-HQ-LML Large-scale mining
license
NFCA June 29, 1998 June 29, 2023 Copper, cobalt
and other minerals
7070-HQ-LML(1) Large-scale mining
license
NFCA June 29, 1998 June 29, 2023 Copper, cobalt
and other minerals
8097-HQ-LML Large-scale mining
license
Luanshya January 23, 2004 January 23, 2024 Copper, cobalt
and other minerals
8396-HQ-LML Large-scale mining
license
Luanshya October 19, 2006 October 19, 2031 Copper and cobalt
8394-HQ-LML Large-scale mining
license
Luanshya October 19, 2006 October 19, 2031 Copper and cobalt
8393-HQ-LML Large-scale mining
license
Luanshya October 19, 2006 October 19, 2031 Copper and cobalt
8395-HQ-LML Large-scale mining
license
Luanshya October 19, 2006 October 19, 2031 Copper and cobalt
8404-HQ-LML Large-scale mining
license
Luanshya November 9, 2006 November 9, 2031 Copper and cobalt
8392-HQ-LML Large-scale mining
license
Luanshya October 19, 2006 October 19, 2031 Copper and cobalt
15201-HQ-LPL Prospecting license SML December 20, 2011 December 20, 2013 Copper
Note:
(1) Mining licensesMining licenses No. 7068-HQ-LML and 7070-HQ-LML have been merged and form a single license with license
No. 7069-HQ-LML.
Mining licenses in Zambia are usually granted for a period of 25 years and can be renewed for
another 25 years  ..China Nonferrous Mining Corporation Limited. Value 6 to 8 billion as revenue grows! Gross profit . 188,258 for 2011!