Several updates on recent mining developments :
Mulyashi Mine :
Zambia Development Agency approved the construction of the Mulyashi ‘Greenfield’ open pit mine in Luanshya in northern Zambia estimated to cost USD 400 million. The China Non Ferrous Metals Africa Corporation owned open cast mine is expected to be
completed and commissioned by December 2011 and add about 60,000 tonnes of copper per annum to Zambia’s copper outturn. Zambia Development Agency Director General Mr Andrew Chipwende said that the agency has authorized the construction of the open pit mine in Luanshya on the copper rich region of Zambia which is hoped to be ready for operations by the end of next year. More detail via Steel Guru.
First Quantum Minerals :
Konkola Copper Mines :Canada's First Quantum Minerals full-year copper production fell to 322,700 tonnes in 2010 versus 373,940 tonnes in 2009, it said on Thursday. First Quantum, which operates mines mostly in Zambia and Mauritania, said in a statement it produced 191,400 ounces of gold in 2010 compared with 193,288 ounces in 2009. Copper production in the fourth quarter of 2010 dropped to 75,600 tonnes versus 98,528 in 2009 and gold output fell to 48,600 ounces compared with 62,679 in the 2009 quarter. More detail via CNBC
Zambia's Konkola Copper Mines (KCM), which is owned by London-listed Vedanta Resources plans to build two copper treatment plants to help raise output to 400,000 tonnes per year by 2012, it said on Tuesday. KCM Corporate Affairs Manager Jacqueline Kabeta told Reuters the company would invest $89 million in the two state-of-the-art concentrators to treat ore from two of its mines. "KCM hopes that together, the two plants, being constructed by Indian firm McNally Bharat Engineering construction company, will add a total of between 1,000 and 1,500 tonnes of finished copper per month to current KCM production," Kabeta said. More detail via Reuters.