Zambia Glencore Unit To More Than Double Cobalt Output Read

[Laf1986]

KAMPALA Uganda--London-listed Glencore International AG's (GLEN.LN) Zambian unit, Mopani Copper Mines is set to more than double annual cobalt output at its Copperbelt-based cobalt plant as the miner continues expansion projects in the country, the company said Monday.
Cobalt output at Nkana cobalt pant will increase to 7,000 metric tons from the current 2,800 tons following the completion of a $27 million upgrade works at the plant, Cephas Sinyangwe, the company spokesman said in a statement.
"The upgrade will also improve the quality of the metal produced. Additionally and more importantly, this investment will secure and sustain more than 300 jobs," Mr. Sinyangwe said.
Upgrades at the plants are the latest in a series of investment projects as Glencore seeks to boost output and extend the lifespan of its Zambian projects.
Zambia is Africa's second top cobalt producer after the Democratic Republic of Congo. Mopani has invested around $2 billion into its Zambian assets, breathing a new life into the ailing facilities that were on the verge of collapsing in the early 2000s, amid low global copper prices.
Other expansion projects in Zambia include the Synclinorium Shaft at Nkana mine, which will extend the life of the mine by 25 years and safeguard about 3,000 jobs. Currently, the company has the capacity to produce around 200,000 tons of finished copper a year.


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