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Monday, 6 September 2010

Mine Watch (Konkola North)

South Africa's African Rainbow Minerals announced recently that the construction of its new copper mine, which it is developing with Brazil's Vale begun in August, with full output eyed in 2015. The total capital expenditure for the project is estimated at $380 million, down from a previous forecast of $400 million. The life of the Konkola North mine, owned by the Konnoco Zambia joint venture split 50-50 between ARM and Vale, is estimated at 28 years, expected to yield 45,000 tonnes of copper concentrate per year. More detail via Reuters.

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