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Unifico Copper FZC LLC sets up 2 million square meter copper and gold processing facility in Ras Al Khaimah.

 

Unifico Copper FZC LLC, part of Switzerland-based Unifico GmbH, has announced the opening of its two million square meter regional operating offices and processing facility for copper and gold in Ras Al Khaimah. The technologically advanced processing facility, which is expected to be operational by the fourth quarter of 2013, will eventually supply up to 500,000 tons of LME (London Metal Exchange) standard copper cathodes a year to the UAE and the Middle East.

Khurshid Shah, Chairman, Unifico Copper FZC LLC, said: “The level of support extended to us by H.H. Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and the team at Ras Al Khaimah Investment Authority (RAKIA) was certainly commendable, and reaffirms all the positive facts we have been learning about the emirate of Ras Al Khaimah. Moreover, given the array of facilities and business incentives offered by RAKIA, Ras Al Khaimah was the obvious choice for us when deciding on the location to set up our regional offices and processing plant.”

“Taking into account the broad scope of our project and our objective to serve our future clients in this region in the most efficient and economical manner, it was imperative that we are geographically close to them. In Ras Al Khaimah, with its deep water port facilities of Mina Saqr and business friendly approach, the management of Unifico Group believes that it has found the perfect geographic location to complement the company’s future development and expansion in all regards. Our new facility will be the first plant in the Middle East to be set up by the owners of the mine themselves, with a lifespan as long as those of the Chilean mining sites. This will be a major contributor to the economy of the UAE and Arab world as a whole,” he added.

Jean Feghaly, General Manager, RAKIA, said: “Unifico Copper FZC LLC is another valuable addition to RAKIA’s growing portfolio of companies. They can be assured of top rate infrastructure facilities and support to ensure that their operations carry on smoothly, in line with their plans to tap the market potential of this region.”

The new Unifico plant, which will adopt various environment friendly practices, will start with gradual production and then increase to the level of catering to the total requirement of the UAE within the next five to seven years from date of operation. The company also revealed that it will be providing onsite training to UAE nationals in various areas of specialisation, in addition to coordinating with local universities for recruiting the next generation of managers, administrators and engineers.

About Unifico:

Unifico Group has been working for many years in the field of copper mining. Its mining site called "Rabia" in the Atacama deserts of Chile, consists of 13 mining licenses, covering an area of about 1,000 hectares in the "Provincia de Huasco", about 40km south of Vallenar. Its international expert team of Geologists, which includes Prof. Dr. Horst Kutsch from Bavaria, Germany, who is recognized internationally as one of the Top 5 world geologists, has been working on this project for the last several years with their expertise, leading to the discovery of an IOCG type deposit in the southern part of Atacama, the so called “Candelaria IOCG Belt”. Also the discovery of an abundant groundwater stream on one of the properties of "Rabia" - fully licensed for "Unifico Mining Limitada, Chile" is furthermore reducing the costs of our Chilean mining operations in regards to prepare the Copper concentrate for shipping to the UAE.

The Group also has been enjoying support for many years from its Chilean team, for example, its high profile Corporate Lawyer, Dr Julio Quiroga from Vallenar, Engineers and Geologists from Incopesa, which is the number 1 Corporation of mining in Chile, and many others.

The Management of the Group’s Headquarters, being established in Zug, Switzerland; with another office in Geneva, is being lead by very experienced senior Swiss bankers, who also benefited from some corporate background. During the next year a Trading Platform for precious and non-ferrous metals and a Shipping Company is being established. In the medium term, part of the group’s strategy is to set up its own fully licensed Swiss banking institution.