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Tuesday, 24 September 2013

Mine Watch (LCM)

Luanshya Copper Mines (LCM) will next year embark on the construction of a US$50m cobalt processing plant. The plant would be constructed using feed from Baluba Mine, would be situated at Muliashi Mine. The feasibility study has already been done and the company has started making preparations including procuring of equipment. The construction will take a year to complete and the plant will employ around 200 people. The project should help improve LCM's financial profile as the mine grapples with increasing costs in other areas and declining copper prices And of course, any new investments in mining at this time is good news indeed. More detail via Times of Zambia

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