Zambia approves $832m copper project

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IOL BR mining PIC001 Reuters.

A unit of China Nonferrous Mining Corp has won Zambian approval to build a $832 million copper mine that will add 60,000 tonnes to the country's annual output of the metal, a company spokesman said on Thursday.

Zambia's environmental management agency, whose approval is required for all large infrastructure projects, has allowed NFC Africa Mining Corp to proceed to with its South East Ore Body Project, about 400 km (250 miles) northwest of Lusaka, NFC Africa spokesman Nelson Jilowa told Reuters.

The building will start this year, Jilowa said.

NFC Africa would build a copper processing plant and sink four shafts for production, services and ventilation, he said.

The copper concentrate will be processed further at the Chinese-owned Chambishi Copper Smelter or other smelters located on the Copperbelt, Jilowa said.

The South East Ore Body had copper ore reserves estimated at more than 76 million tonnes at an average grade of 2.18 percent, according to a document submitted to the environmental agency. - Reuters


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