Message Jeu 21 Avr 2011 18:25

Mopani to spend $295 million in new shaft

By NKOMBO KACHEMBA

MOPANI Copper Mines (MCM) says it will spend US$ 295 million to sink a new shaft at its Nkana mine site in Kitwe to increase its life span to 25 years.

MCM chief executive officer Emmanuel Mutati said this during a presentation when deputy minister of Mines and Minerals Development Jazzman Chikwakwa toured the mine in Kitwe on April 21.

He said the synclinorium shaft will have a production capacity of 115 million tonnes of copper ore.

“We are going to spend US$ 295 million to sink a new shaft at Nkana site to prolong the lifespan of the mine. Right now we are doing some preliminary works on the project and next year we are starting the actual works. The project will be commissioned in the first quarter of 2015,” MrMutati said.

He said the lifespan of the shaft is 25 years and preliminary works have already started.

He said the Nkana mine site would have been closed by 2015 without the sinking of the new shaft.

Mr Mutati said the new shaft will be, 1200 metres deep and 600 people will be employed.

He also said MCM will invest an additional US$ 1 billion in the next five years.

He said MCM has so far invested US$ 1.2 billion in the mine since it was privatised.

Mr Mutati also said the lifespan for the Nkana north shaft in Kitwe will expire in the next three years.
“The north shaft at Nkana mine in Kitwe turns off in three years’ time. But this will not affect our operations because it only produces 500,000 tonnes of ore per annum,” Mr Mutati said.

And Mr Chikwakwa is happy that MCM has appointed more Zambians in management positions.

“I am proud that MCM is headed by Zambians. This should be emulated by other institutions. Government always advises mining houses to mix local and foreign investment to produce local products,” Mr Chikwakwa said.

He also said Government is committed to creating an enabling environment for foreign investors so that they can expand their business.