masabahouse (masabahouse) wrote,

Zambia's Mopani plans $100 mln copper project

LUSAKA (Reuters) - Zambia's Mopani Copper Mines (MCM), a unit of Swiss firm Glencore International AG plans to spend $100 million to sink a new shaft and extend the mine life by 25 years, a minister said on Friday.

Mines Minister Maxwell Mwale told Reuters Mopani planned to develop the new shaft in order to access untapped mineral resource of about 100 million tonnes of copper bearing ore beneath the existing Nkana south ore body and the central shaft ore body in Kitwe, 330 km north of Lusaka.

"The ore bodies being mined are nearing their end and the existing shaft infrastructure cannot go deeper for them to access the rich ore body. They can mine for another 25 years once they access the ore body beneath," Mwale said.

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