Reuters reported that Canada's Anvil Mining Limited posted Q2 profit, boosted by higher sales and lower expenses and said it expects some delay in commissioning its Kinsevere project in Congo.

Anvil Mining said that its Chief Executive Bill Turner will retire in early 2011. For the quarter ended June 30, the company posted net income from continuing operations of USD 5.1 million or 3 cents a share compared with net loss of USD 11.3 million or 13 cents a share, a year ago.

The company said that it now expects to commission its Kinsevere Stage II copper mine project in the Democratic Republic of Congo by the Q2 of 2011. It had earlier expected to commission the project in the Q1.

In February, Anvil had agreed to sell its majority interest in its Dikulushi copper silver mine in Congo to Australia's Mawson West Limited for 28% stake in the junior miner.

Anvil said that it agreed to hedge about 100% of its expected copper production for the remainder of 2010 and backed its full year production view of 15,000 tonnes of copper contained in concentrate.

(Sourced from Reuters)