Mwembeshi Resources to develop $494m copper mine By NKOLE CHITLA
Mwembeshi Resources Limited, a subsidiary of Zambezi Resources Limited, intends to develop a large-scale open pit copper mine with a capital cost estimated at US$494.6 million in Chongwe district.
The copper project is located in a Greenfield site of Chongwe district at Kangaluwi site. It says 15 million tonnes of copper per annum is expected to be produced after the mine is fully operational.
According to a final environmental impact statement submitted to Zambia Environmental Management Agency (ZEMA) for review, the capital is expected to be used for exploration, feasibility studies, mine development, equipment, mill infrastructure, tailings, power supply, working capital and reclamation.
The EIS says an initial workforce of 250 people will be recruited by the mine.
The proposed Kangaluwi copper project will involve large-scale open pit mining of the rock that host copper mineralization.
The statement says apart from Kangaluwi project, open pit operation will also take place at Kalulu, Chisawa and Imboo.
The open pit mine will be treated as satellite pits to the Kangaluwi open pit.
Last year the firm spent US$12 million on the project since the granting of a license in 2003.
The investment was mainly put in exclusive geo-physical and geo-chemical reconnaissance studies leading to the other three prospected areas.
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