Mining companies start construction of new copper mine in Za
Posté: Ven 5 Nov 2010 08:110 COMMENTS | COMMENT PRINT
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5th November 2010
TEXT SIZE Mining companies African Rainbow Minerals (Arm) and its 50:50 Konnoco Zambia joint venture partner, mining giant Vale, have started the construction of the Konkola North copper mine, in Zambia.
The total project capital expenditure, in July 2010 terms, is $380-million.
Construction at the mine started in August 2010, with the commissioning of the concentrator plant expected in just over two years. The mine of Konkola North is planned to reach full production in 2015, with an expected life of 28 years, says Arm.
A further three-year exploration programme to evaluate area A, which has the potential to double the output to 100 000 t/y of copper in concentrate, is in progress.
Initially, the south and east limb mines will be developed, after which the deeper, higher-grade and wider reef areas will be mined.
Arm reports that the mine’s throughput design is 2,5-million tons of ore a year, at an average mill head grade of 2,3% copper, with a yield of 45 000 t of contained copper in concentrate to be toll-smelted in Zambia.
Investment firm ZCCM Investment Holdings has a buy-in right into Konnoco Zambia of either 15% or 20%, with 5% thereof being a free carry.
“The new copper mine that we are building in Zambia with our partner, Vale, is signi- ficant because it adds a new exciting commodity to Arm’s diverse commodity portfolio and is also our first investment in Africa,” says Arm executive chairperson Patrice Motsepe.
The development of the Konkola North copper project adds a new commodity to Arm’s and Vale’s growth in copper. It will, however, be the first time that Arm’s operational interests extend beyond South Africa.
The partners view the project as the early development for a copper growth strategy in Africa.
The newly developed mine will be housed in Arm in a new division, Arm Copper.
EMAIL |
5th November 2010
TEXT SIZE Mining companies African Rainbow Minerals (Arm) and its 50:50 Konnoco Zambia joint venture partner, mining giant Vale, have started the construction of the Konkola North copper mine, in Zambia.
The total project capital expenditure, in July 2010 terms, is $380-million.
Construction at the mine started in August 2010, with the commissioning of the concentrator plant expected in just over two years. The mine of Konkola North is planned to reach full production in 2015, with an expected life of 28 years, says Arm.
A further three-year exploration programme to evaluate area A, which has the potential to double the output to 100 000 t/y of copper in concentrate, is in progress.
Initially, the south and east limb mines will be developed, after which the deeper, higher-grade and wider reef areas will be mined.
Arm reports that the mine’s throughput design is 2,5-million tons of ore a year, at an average mill head grade of 2,3% copper, with a yield of 45 000 t of contained copper in concentrate to be toll-smelted in Zambia.
Investment firm ZCCM Investment Holdings has a buy-in right into Konnoco Zambia of either 15% or 20%, with 5% thereof being a free carry.
“The new copper mine that we are building in Zambia with our partner, Vale, is signi- ficant because it adds a new exciting commodity to Arm’s diverse commodity portfolio and is also our first investment in Africa,” says Arm executive chairperson Patrice Motsepe.
The development of the Konkola North copper project adds a new commodity to Arm’s and Vale’s growth in copper. It will, however, be the first time that Arm’s operational interests extend beyond South Africa.
The partners view the project as the early development for a copper growth strategy in Africa.
The newly developed mine will be housed in Arm in a new division, Arm Copper.