BRAZILIAN BASED AND WORLD'S SECOND LEADING IRON ORE PRODUCER SEEKS TO INVEST MORE THAN USD 90 MILLION IN ITS KONKOLA NORTH COPPER MINE PROJECT IN COPPER RICH NORTHERN ZAMBIA THIS YEAR FOR THE DEVELOPMENT OF THE PROJECT WHICH START OPERATIONS IN 2013.
ACCORDING TO A STATEMENT POSTED ON THE COMPANY WEBSITE, VALE MINING SEEKS TO PLOUGH USD 93 MILLION IN ZAMBIA'S KONKOLA GREENFIELD MINE IN CHILILABOMBWE THIS YEAR IN ADDITION TO THE MORE THAN USD 400 MILLION INVESTMENTS EARMARKED IN THE GREENFIELD MINE.
THE MINER SAID IT WOULD ADD THE USD 93 MILLION TO THE USD 400 MILLION IT PUT IN THE DEVELOPMENT OF THE GREENFIELD MINE ON THE COPPERBELT PROVINCE AND ENSURE THAT THE PROJECTED PRODUCTION OF COPPER FROM THE MINE IN THE NEXT TWO YEARS IS ACHIEVED.
DURING 2011 THE MINER ENVISIONS TO INVEST IN THE DEVELOPMENT OF A LARGE NUMBER OF WORLD-CLASS PROJECTS, 15 OF WHICH HAVE ALREADY BEEN APPROVED BY THE BOARD OF DIRECTORS.
ACCORDING TO A STATEMENT POSTED ON THE COMPANY WEBSITE, VALE MINING SEEKS TO PLOUGH USD 93 MILLION IN ZAMBIA'S KONKOLA GREENFIELD MINE IN CHILILABOMBWE THIS YEAR IN ADDITION TO THE MORE THAN USD 400 MILLION INVESTMENTS EARMARKED IN THE GREENFIELD MINE.
THE MINER SAID IT WOULD ADD THE USD 93 MILLION TO THE USD 400 MILLION IT PUT IN THE DEVELOPMENT OF THE GREENFIELD MINE ON THE COPPERBELT PROVINCE AND ENSURE THAT THE PROJECTED PRODUCTION OF COPPER FROM THE MINE IN THE NEXT TWO YEARS IS ACHIEVED.
DURING 2011 THE MINER ENVISIONS TO INVEST IN THE DEVELOPMENT OF A LARGE NUMBER OF WORLD-CLASS PROJECTS, 15 OF WHICH HAVE ALREADY BEEN APPROVED BY THE BOARD OF DIRECTORS.
THESE INCLUDE US$ 93 MILLION IN ZAMBIA AT ITS KONKOLA NORTH GREENFIELD MINE AND KONKOLA NORTH COPPER MINE WILL BE RUN AS A JOINT VENTURE BETWEEN VALE AND AFRICAN RAINBOW MINERALS WHICH ARE IN PARTNERSHIP SINCE AUGUST 2010 TO DEVELOP THE MINE, LYING ABOUT 450 KILOMETERS FROM THE ZAMBIAN CAPITAL, LUSAKA.
THE MINE HAD DURING THE COMMISSIONING OF WORK AT THE NEW SITE PLEDGED TO INVEST MORE THAN USD 1 BILLION INTO THE PROJECT BY 2015 IN AMONG OTHER PROGRAMS, INFRASTRUCTURE DEVELOPMENT AND ENSURE ZAMBIA SUCCEEDED IN BEING ONE OF THE MAJOR CONTRIBUTORS OF COPPER TO THE INTERNATIONAL METAL MARKET.
ACCORDING TO DATA, KONKOLA NORTH, ESTIMATED TO BE THE SECOND LARGEST KNOWN RESOURCE ON THE COPPER BELT, IS AN OPEN PIT MINE, WITH AN ESTIMATED NOMINAL PRODUCTION CAPACITY OF 45,000 TONNES OF COPPER CONCENTRATE PER YEAR, WHICH WOULD RISE TO 100,000 TONNES PER YEAR BY AT FULL PRODUCTION IN 2015.
ACCORDING TO DATA, KONKOLA NORTH, ESTIMATED TO BE THE SECOND LARGEST KNOWN RESOURCE ON THE COPPER BELT, IS AN OPEN PIT MINE, WITH AN ESTIMATED NOMINAL PRODUCTION CAPACITY OF 45,000 TONNES OF COPPER CONCENTRATE PER YEAR, WHICH WOULD RISE TO 100,000 TONNES PER YEAR BY AT FULL PRODUCTION IN 2015.
HAVING PUMPED USD 400 MILLION THE COMPANY WAS CONCERNED ABOUT COMING UP WITH AN ENVIRONMENTALLY FRIENDLY MINING ACTIVITIES AND WOULD RESERVE AS MUCH AS USD 70 MILLION OF ADDITIONAL CONTINGENCIES FOR SOCIAL AND ENVIRONMENTAL INVESTMENTS.
PRODUCTION OF COPPER, AT THE KONKOLA NORTH MINE IS EXPECTED TO START IN 2013 AND WOULD BE OPERATING AT FULL CAPACITY IN 2015 WITH ABOUT 1,500 PEOPLE EXPECTED TO BE EMPLOYED.
PRODUCTION OF COPPER, AT THE KONKOLA NORTH MINE IS EXPECTED TO START IN 2013 AND WOULD BE OPERATING AT FULL CAPACITY IN 2015 WITH ABOUT 1,500 PEOPLE EXPECTED TO BE EMPLOYED.
VALE WAS INVOLVED IN EXPLORATION WORKS HAS PREVIOUSLY STATED THAT IT PLANNED TO INVEST IN NICKEL MINING IN ZAMBIA AFTER COMPLETING THE COPPER MINE.
published by augustine m sichula
No comments:
Post a Comment