CFMC embarks upon technical studies at Mufulira mine in Zamb
Friday, 30 Jul 2010China’s non ferrous Metals Corporation has embarked upon technical studies to determine the possibility of extracting copper on commercial basis from the Tailings dams at Mufulira mine in copper rich Zambia.
Mr Boniface Nkhata deputy mines minister of Zambia said that the government would not seek taxes from the Chinese miner which is conducting the study because there was the company has not started production of the metal at the moment.
Mr Nkhata, in response to questions raised by some lawmakers who wanted to know the reason behind the agreement for the study that had started at the dams said that the government would not collect taxes from a mere study because taxes were collected on the basis of levels of production and profitability.
According to government, the study was meant to assess the economic viability of excavating for copper in the tailings dams. The NFMC and the Zambia Consolidated Copper Mines-Investment Holdings had on April 12 this year signed an agreement for the study to assess the possibility of excavating for copper on commercial levels at the dams piled by the more than 70 year old mine. Production of the metal would start when the study confirms the presence of adequate amounts of copper. CFMC offered to secure the tailings dam at a cost of USD 5 million.
Mufulira Mine is one of the units jointly owned by First Quantum Minerals Limited and Glencore AG of Switzerland and ZCCM IH Limited, which was sold as part of the privatization of the Zambia Consolidated Copper Mines conglomerate in the 1990s by the government to offset running costs.
It also one of the mines operating in the country under Mopani Copper Mines Limited, owned chiefly by First Quantum Minerals, Glencore AG and ZCCM IH owning a minority stake. CMFC, owns among other mines in Zambia, Chambishi underground mine and a 150,000 tones concetrator processing copper smelter and Luanshya mine, including Mulyashi greenfield open pit which it is developing at a cost of USD 300 million and is expected to be operational by 2011.
http://www.steelguru.com/metals_news/CF ... 57545.html
« L'aventure n'existe pas. Elle est dans l'esprit de celui qui la poursuit, et dès qu'il peut la toucher du doigt, elle s'évanouit pour renaître bien plus loin, sous une autre forme, aux limites de l'imagination. »
( Pierre Mac Orlan )
( Pierre Mac Orlan )