Zambia KCM Starts Operations At $100M Copper Concentrator

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DOW JONES NEWSWIRES

Jan 19, 2012 (Dow Jones Commodities News via Comtex) --

Zambia's second largest copper and cobalt producer, Konkola Copper Mines, said Thursday it has started operations at a $100 million copper concentrator as it continues expansion projects aimed at achieving annual copper production 400,000 metric tons in the next couple of years.

The new plant, at KCM's Nchanga Integrated Business Unit in Zambia's Copperbelt province, will help improve plant availability and metal recoveries by about 15%, according to company Chief Executive Jeyakumar Janakaraj.

"This new facility will enable KCM to reduce waste, recycle and dispose of all waste products," Janakaraj said in a statement.

KCM is a unit of London-listed Vedanta Resources PLC (VED.LN).

The concentrator was commissioned Wednesday by Zambia's mines and natural resources minister, Wilber Simuusa.

A company spokesman further said that KCM is planning an additional $500 million investment in the next few years to expand its asset base as it continues efforts to meet production targets.

Of the $500 million, $200 million will be invested in the Chingola Refractory Ore project and an additional $300 million in other projects, including the upper ore body, which is an expansion for the existing Nchanga underground copper mine, to extend its lifespan, he added.

Since Vedanta took over KCM in 2004, it has invested at least $2.5 billion in various expansion projects including the 300,000 tons-a-year Nchanga Copper Smelter as well as the Konkola Copper Mine deep mine project, which is expected to extend the life span of the mine by at least 35 years.

KCM produced 173,000 tons of copper in 2010 and projected to produce at least 250,000 tons last year.

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Zambie: KCM va investir 500 millions de dollars dans le cadre de sa stratégie d'expansion
LUSAKA - Une des plus grandes entreprises zambiennes compte investir 500 millions de dollars supplémentaires car elle cherche à consolider sa production dans le pays d'Afrique australe, a rapporté vendredi le Zambia Daily Mail.
Vendredi 20 janvier 2012 | 13:42 UTC

La Konkola Copper Mines (KCM) a déclaré que ces nouveaux investissements l'aideront à accroître ses avoirs et élever sa production de cuivre à 400000 tonnes par an.

Le PDG de l'entreprise, Jeyakumar Janakaraj, a déclaré qu'il se concentrerait sur les investissements sur le long terme dans le secteur minier zambien afin d'augmenter la production dans les prochaines années.

La KCM, unité de Vedanta Resources côté à Londres, est un des plus grands investisseurs des mines zambiennes et a investi à ce jour 2,5 milliards de dollars depuis son installation en Zambie en 2004.

Mercredi, l'entreprise a commandé un nouveau concentrateur de 100 millions dollars à une de ses mines Nchanga dans la province de Copperbelt, qui améliorera la disponibilité et la récupération de métaux de l'usine d'environ 15 % et contribuera également à réduire les coûts opérationnels, selon le Daily Mail.

"Cette nouvelle installation permettra à la KCM de réduire les déchets, de recycler et de détruire tous les déchets. La KCM cherchera toujours de nouvelles méthodes pour équilibrer le besoin constant pour le développement en s'engageant à protéger l'environnement", a indiqué l'officiel.

[LesCrozes]

KCM launches new $100m concentrator
January 19, 2012 - 13:32 GMT Location: Windhoek

KEYWORDS: KCM , Konkola Copper Mines , Zambia , Nchanga , copper , cobalt

Zambia’s Konkola Copper Mines (KCM) has installed a new $100 million concentrator to boost metal recoveries and cut operating costs at its Nchanga copper and cobalt mines.

KCM, a unit of London-listed Vedanta Resources, also plans to invest a further $500 million over the next few years to expand its asset base and meet its previously announced target of 400,000 tpy copper from around 220 000 tpy.

Zambia’s mines minister, Wylbur Simuusa, launched the East Mill II concentrator at Nchanga, Chingola, on Wednesday January 18, KCM said.

The new plant is expected to improve plant availability and metal recoveries by about 15% and help reduce overheads, KCM ceo Jeyakumar Janakaraj said in a statement.

KCM plans to invest $200 million in the Chingola refractory ore project and $300 million in expanding and extending the lifespan of Nchanga mines, which comprise an underground and open-pit operation.

It will also start processing copper from stockpiles of the Chingola refractory ores, the group said.

Vedanta owns an indirect 79.4% stake in KCM, which is listed on the Lusaka Stock Exchange. The Zambian government, through ZCCM Investments Holdings, owns the remaining KCM stake.