NKR Nikanor

RNS Number:7395R
Nikanor Plc
23 February 2007







NIKANOR SIGNING CEREMONY



Nikanor PLC (LSE AIM: NKR),  the mining company with operations in the
Democratic Republic of Congo, is pleased to announce that the official signing
ceremony for the first major contract for its new refinery takes place today.



The $30m earthworks contract between DCP, Nikanor's 75% owned subsidiary, and
MCK, a leading DRC contractor, is the first step in the construction of a
250,000 tonne per year copper and 27,500 tonne per year cobalt SX/EW refinery.
This refinery will be one of the largest of its type in the world when it begins
production in late 2009.



Jonathan Leslie, Executive Chairman of Nikanor said,



"We're delighted to have the Governor of Katanga here today to witness this
important step towards the construction of our new refinery.  This project
brings significant investment and employment to the region and we're proud to
play a part in rebuilding the mining industry in Katanga."





For further information, please contact:

Nikanor PLC
Peter Sydney-Smith, Finance Director                  +44 (0)20 7917 9826
Richard Boorman, Head of Investor Relations           +27 (0)83 604 1795

Citigate Dewe Rogerson
Kate Delahunty                                        +44 (0) 207 638 9571
George Cazenove


Notes to Editors

Nikanor is a mining group which owns assets in the heart of the African
copperbelt in the Democratic Republic of Congo.  The group's key mine is KOV,
containing one of the world's largest high quality copper and cobalt ore bodies.
Nikanor is rehabilitating this proven and well documented brownfield site and
building a major state of the art refining plant to produce 250,000 tonnes per
year of LME A-grade copper cathode and 27,500 tonnes per year of cobalt
products. Nikanor listed on the London Stock Exchange (AIM) on 17 July 2006.



www.nikanor.co.uk


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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