Konnoco eyes Konkola North mine By CYNTHIA MWALE KONNO

[bingogo]

Konnoco eyes Konkola North mine

By CYNTHIA MWALE

KONNOCO Zambia Limited, a subsidiary of Teal Exploration and Mining Incorporated, has proposed to develop Konkola North Mine and concentrator in Chililabombwe.

The company plans to build a concentrator next to the existing old shaft to process 125,000 tonnes of ore per month.

This is contained in an environmental impact statement submitted to the Environmental Council of Zambia (ECZ).

The statement states that copper sulphide and oxide concentrates will then be sold to a third party for toll-processing.

Teal acquired the mining licence for Konkola North project in 1997, which confers exclusive mining rights on Konnoco for 23 years for copper, cobalt, gold, silver, selenium, tellurium and sulphur.

The mining licence covers about 44 square kilometres, which include the existing Konkola Number 2 shaft and head gear, ventilation shaft and associated infrastructure that was developed by Bancroft in the 1950s.

Konnoco has conducted a feasibility study on the re-commissioning of the shaft and workings, and developing a concentrator plant and associated infrastructure on the site.

The project is subject to a buy-in right of up to 20 percent, including a five percent carried interest by Zambia Consolidated Copper Mines Investment Holdings.