Message Ven 8 Fév 2013 12:19

KCM pumps KR1bn in open pit mine project

By KALONDE NYATI
KONKOLA Copper Mines (KCM) Plc is expected to invest about KR1billion (US$200 million) in the Mimbula open pit mine project which is expected to create about 600 jobs.
KCM chief executive officer Jeyakumar Janakaraj said feasibility studies for the project have been completed and the firm is awaiting approval from the Zambia Environmental Management Agency (ZEMA).

Mr Janakaraj said mining at the Mimbula project is expected to commence in April next year.
“The Mimbula feasibility has been completed and we are in active engagement with ZEMA and once the approval comes we will start pre-striping. This is a mine that is going to create between 500 and 600 jobs when we commence mining next year,” he said.
He said this at a media briefing in Lusaka on Tuesday.
On the Konkola Deep Mining Project (KDMP), Mr Janakaraj said the project is almost complete.
“The KDMP is taking very good shape, we are already hoisting waste from the bottom shaft level and we are hopeful that we will in the next three to four months start hoisting ore from bottom shaft level.
It’s been six years of hard work to put up this project and it gives us great satisfaction because it will give more life to KCM,” he said.
KDMP is expected to extend the mine’s lifespan to about 35 years.
Mr Janakaraj said the mine that has invested over US$2.6 billion remains committed to invest in various projects that increase mining life.
He said the KCM has also set aside US$15 million for coal and copper exploration projects in Southern and North-Western provinces respectively.
The Ministry of Mines recently granted mining exploring licences to KCM.