Message Ven 1 Fév 2019 15:14


Lubambe Copper Mine is next year set to invest 5-hundred million dollars in a new mine to explore 7-million tons of copper over a 30 year period.

Lubambe Chief Executive Officer Nick Bowen says the 7-million tons are coming from a 2-hundred million tons ore body which was recently found on the mine.

Briefing President Edgar Lungu at State House in Lusaka today Mr. Bowen said the copper discovered at the mine is world class at 8 percent.

Mr. Bowen said the mine owned by AMI of Australia will start producing about one-hundred and 50-thousand tons of copper annually which will help Zambia attain its annual target of one-million tons.

He said his company is keen on investing in Zambia with the new mine set to create about one-thousand jobs during the construction stage which will taka bout five years and about 2-thousand new jobs to be created when it starts running.

Mr. Bowen has also projected a 60 percent increase in copper production this year at 36-thousand tons, up from last year’s 22-thousand tons production which was a 22percent increase from 2017.

And President Lungu expressed happiness with the mine’s continued investment in the country and not scaling down on its one-thousand 2-hundred and 50 jobs amidst the new taxation.

He reiterated government’s commitment in stakeholder consultation and creating a conducive environment for private sector development.

The Head of State also assured Mr. Bowen of government’s support in fast processing of documents and the procedure to commence operations which is also key for government’s revenue generation