Glencore's Zambia unit to start new copper mine

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Message Mer 9 Sep 2009 16:36

Glencore's Zambia unit to start new copper mine

Glencore's Zambia unit to start new copper mine
Wed Sep 9, 2009 1:36pm GMT

* Mopani to mine 260,000 tonnes copper ore

* Open pit mine to be at Mindolo copper site

LUSAKA, Sep 9 (Reuters) - A unit of Swiss company Glencore International AG GLEN.L will develop an open pit copper mine in Zambia after authorities approved its proposal for the project, a government agency said.

The Environmental Council of Zambia (ECZ) said it had approved a project proposal by Mopani Copper Mines (MCM), majority owned by Glencore, to develop an open pit mine in the Mindola ore body in Kitwe, 330 km north of Lusaka. The Mindolo ore body, one of Zambia's oldest mining sites, is located within the Nkana mine, which together with Mufulira copper mine and Mufulira smelter, are operated by Mopani.

"Mopani intends to develop an open pit mining operation with the intention of mining approximately 260,000 tonnes of ore at a copper grade of 4.22 percent," the ECZ said in a statement seen by Reuters on Wednesday.

The ECZ gave no indication of the total cathode copper Mopani would produce at Mindolo, but said the open pit would cover an area of about six hectares within the company's mining licence area.

"The waste dump, an area of 15 hectares and a small area of approximately 1 hectare will be required for offices, workshop and transfer of ore stockpile," the ECZ said.

Under Zambian law, mining firms must first seek the approval of the ECZ before they can start producing copper.

Mopani was Zambia's second largest copper producer before new mines with higher output like Lumwana mine, owned by Equinox Minerals Ltd (EQN.TO: Quote) (EQN.AX: Quote) and Kansanshi mine, a unit of Canada's First Qunatum Minerals (FM.TO: Quote) came on stream last year.

The largest copper producer in this southern African country of 12 million people is Konkola Copper Mines (KCM), a unit of London-listed Vedanta Resources Plc (VED.L: Quote).

Copper mining is Zambia's economic lifeblood and the mines are a major employer in the country. (Editing by Shapi Shacinda)http://af.reuters.com/article/equatorialGuineaNews/idAFL805130120090909?feedType=RSS&feedName=equatorialGuineaNews
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Message Jeu 10 Sep 2009 06:57

en voilà une bonne news !! car si c'est

MOPANI qui fait une extension, alors zccm en est aussi le propriétaire à sa hauteur de participation dans MOPANI...

Le seul bemol pour le moment est le comportement de glencore... un minimum d'info si ce n'est pas d'info du tout !

Esperons que les negos pour ouvrir cette mine aurons permis au GRZ et zccm de négocier ds le sens de zccm-ih...
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Le Niçois

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Inscription: Lun 7 Sep 2009 22:10

Message Jeu 10 Sep 2009 21:17

Re: Glencore's Zambia unit to start new copper mine

en effet, tout es ttrès feutré avec ces suisses.
L'important est que cela se caractérise positivement pour zccm-ih.

Le GRZ doit s'affirmer maintenant, de plus si la crise en partie est plus derrière que devant

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