Zambia approves China CNMC expansion plans for Muliashi copp
Lusaka (Platts)--23Dec2010/851 am EST/1351 GMT
Zambia Development Agency, the investment arm of the government, has approved expansion plans proposed by China Nonferrous Metals Corporation for the Muliashi copper mine, ZDA Director-General Andrew Chipwende said Thursday.
The expansion would cost $400 million, Chipwende said in a statement.
The Muliashi copper project is owned 85% by CNMC and 15% by the government of Zambia through Zambia Consolidated Copper Mines Investments Holdings. The project is part of Luanshya Copper Mine which CNMC bought from JW Holdings for $50 million in June 2009.
Construction of the mine, which is an open pit unit, started early 2010 and production is expected to begin in 2013 with 60,000 mt/year of copper and 1,500 mt/year of cobalt. Expansion plans for the project would include construction of a concentrator, a Luanshya Copper Mine spokesman said.
--James Mwambazi, newsdesk@platts.com
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( Pierre Mac Orlan )
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