Mar 8 Déc 2009 14:43
DJ Zambia Chambishi Copper Smelter Seeks Clearance To (...)
Dec 08, 2009 (Dow Jones Commodities News via Comtex) --
By Nicholas Bariyo
Chinese-owned Chambishi Copper Smelter is seeking clearance from Zambia's environment watchdog to expand its plant capacity by up to 67%, the company said Tuesday.
NFC Africa, a unit of China Nonferrous Metals Co. Ltd. (8306.HK) and owners of the plant, has submitted the environmental impact assessment report to the Environmental Council of Zambia.
If it is approved, the company hopes the $200 million-plus investment in the expansion will raise output next year to 250,000 metric tons annually from 150,000 tons at present.
ECZ is studying the report and is expected to approve the project in the first quarter of next year, according to government officials.
NFCA said the expansion at the smelter will help the company cut costs through improved copper and sulfuric acid recovery rates.
In addition to treating copper concentrates from the Chambishi Copper Mines, the smelter--which was commissioned in October--already has copper-processing deals with Equinox Minerals Ltd.(EQN.T), Metorex Ltd.(MTX.JO) and First Quantum Minerals Ltd.(FM.T).
The company wants to expand the copper concentrates shed, expand the furnace and construct an additional acid plant and oxygen plant units.
-By Nicholas Bariyo, contributing to Dow Jones Newswires; +256 75-262 4615; bariyonic@yahoo.co.uk
(END) Dow Jones Newswires
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