Lusaka, Zambia — MININGREVIEW.COM — 07 April 2010 – Listed on the Toronto and London Stock Exchanges, First Quantum Minerals Limited “’ a growing mining and metals company engaged in mineral exploration, development and mining predominantly in Africa “’ expects mining at its Kansanshi copper and gold mine in Zambia to continue for the next 20 years, following a recent study that revealed higher ore grades and additional resources.
Recent investigations at Kansanshi “’ one of Africa’s largest copper mines “’ verified by independent mining experts, showed an increase of 50% in the contained copper and 18% in the measured and indicated resources, the company said in a statement seen here by Reuters.
In an estimate of resources and reserves by 31 December 2009, the firm said the significantly increased proved and probable mineral reserves could support a mine life of approximately 13 years at a through-put rate of 24 million tonnes of copper ore per year. “The mine life increases to 20 years when the inferred mineral reserve is considered,” the statement added.
First Quantum plans to develop Kansanshi in two phases, with the first 16-year phase targeting the exploitation of proven and probable mining reserves, according to the Kansanshi website.
Copper production at Kansanshi rose to nearly 245 000 tonnes last year, from 215 314 tonnes in 2008.
The mine produced nearly 100 000 ounces of gold last year.