Lusaka, Zambia — MININGREVIEW.COM — 24 April 2008 – The Lumwana copper mine in north-west Zambia – fully owned by Equinox Minerals Limited, an international exploration and mine development company which is dual-listed on the Canadian and Australian stock exchanges – is expected to start partial copper production in July this year.
Reporting from here, Reuters quotes local company CEO Harry Michael as saying that he expects annual output to average 169 000 t in the first five years. “We will be producing copper concentrate which will typically take six months to reach full production capacity,"” he told Reuters.
Michael said that US$762 million (R5 billion) is being invested in developing what industry experts describe as “what will be Africa’s largest open pit copper mine.” Total mine investment is expected to reach US$1 billion (almost R8 billion), the new agency reports.
Meanwhile Equinox CEO Craig Williams has stated that Zambian state power utility ZESCO Ltd. connected power to the mine’s main substation last week. ZESCO expects to boost generation by 660 megawatts by early 2009 to meet rising demand from copper mining and domestic consumption.