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CNMC plans to go ahead with Zambia copper project Saturday,
Saturday, 29 May 2010
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Platts reported that China Nonferrous Metals Corporation plans to proceed with the Muliashi copper project, part of the Luanshya Copper mine in Zambia and is now waiting for approval of the treatment method to be used on metal mined at the project.
Mr Luo Tao president CNMC said in a statement that material at the project has high oxide content. Such material is usually treated through heap leaching. About USD 270 million will be invested in the development of the project to produce an estimated 40,000 tonnes per year to 60,000 tonnes per year of copper cathodes.
He said that work on the project will commence in June 2010 with commissioning taking place in 2011, adding that this would increase copper output at the LCM. Full copper production at LCM is currently proving difficult to be attained due to obsolete equipment.
Mr Tao said that 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 attaining full production through modernizing the plant machinery. This year we plan to invest USD 30 million and USD 40 million by 2012.