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CNMC to invest $270m in Muliashi Mines By Kabanda Chulu Tue
By Kabanda Chulu
Tue 25 May 2010, 04:00 CAT [46 Reads, 0 Comment(s)]
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CNMC president Luo Tao has said US $ 270 million will be invested in developing the Muliashi Mines in Luanshya next month that will produce 40,000 metric tonnes of copper cathodes per annum.
And Luo said China Nonferrous Metal Mining (CNMC) will this year invest US $ 40 million to modernise plant machinery at Luanshya Copper Mines (LCM) in order to bring back the mines to full capacity.
Meanwhile, Luo has dismissed assertions that Chinese investors do not contract local suppliers, saying Zambian contractors were actively involved in developing the Multi Facility Economic Zones (MFEZ) at Chambishi.
Responding to a press query, Luo, who last month toured
CNMC investments on the Copperbelt and met government officials stated that the company was currently studying how to process copper to be mined at Muliashi.
He explained that copper deposits at Muliashi contain oxide, which should either be treated through heap leaching or agitation methods.
“After careful studies, we have agreed to go ahead with the Muliashi project and we are waiting approval on the method to be used in treating the copper at this project since it has a higher content of oxide, which is normally treated through heap leaching or agitation methods,” Luo stated. “Everything has been done including engineering drawings and we shall invest US $ 270 million to produce 40,000 metric tonnes of copper cathodes and we expect works to commence this June with commissioning taking place next year and this development will increase production at the mines in Luanshya.”
He explained that full production was proving difficult to be attained at LCM since the previous owners did not invest in modern equipment.
“When we took over last year June, we invested US $ 30 million. Though operations have started, the pressure is huge for us to increase production since previous owners never invested in equipment. But we are looking forward to attain full production through modernising the plant machinery and this year we shall invest between US $ 30 million to US $ 40 million and by 2012 there will be a complete new picture at Luanshya Mines following the acquisition of new equipment,” Luo stated.
On the unfair treatment towards local contractors, Luo responded that Zambians were given top priority in terms of contracts to supply goods and services and in job creation.
“It is not true that we don’t deal with local contractors, for instance, at the Chambishi MFEZ, Gomes Haulage is not a Chinese company but they have done the ground leveling and developing the access roads including the installation of water pipelines and reservoir and power lines were handled by Zesco Limited,” Luo stated. “We give opportunities to all people and if local contractors meets requirements then the job is given to them. But what we don’t want to is exploitation by suppliers, hence we compare prices and go for something affordable and we have also created jobs at various investments and at Luanshya mines, Robert Kamanga is the deputy managing director and we have many Zambians in managerial positions.”