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Alba Iulia
Sunday, April 18, 2021

C/belt mines still have much ore

Economy C/belt mines still have much ore

Parliament heard Thursday that about 67.7 million tonnes of copper ore is still reserved in Chibuluma, Nchanga open pit and Mindolo shaft mines on the Copperbelt.

Mines Deputy Minister, Maxwell Mwale told the House that Chibuluma mine still has about 5.5 millon tonnes ore, while Nchanga open pit and Mindolo shaft mine still hold 33.2 million and 26 million tonnes.

Mr Mwale was responding to a question by Chipili Patriotic Front (PF) Member of Parliament Davies Mwila who wanted to know the life span of the Chibuluma, Nchanga open pit and Mindolo shaft.

He also wanted to know how much revenue government is likely to colect from the mines.

The Deputy Minister told the House that at the current copper prices and the new fiscal regime, government is expected to collect K432 billion from Chibuluma, K1.3 trillion from Nchanga open pit and K691 billion from Mindolo shaft mines.

Mr Mwale said the life span of Mindolo Shaft mine is 17 to 25 years, Nchanga open pit mine is 14 to 22 years and Chibuluma mines eight to 16 years.

He explained that it is estimated that government will collect more taxes once the new tax regime for the mines comes into effect on April 1.

And Mnies Minister, Kalombo Mwansa said the government wants to ensure revenue collected from the mines is used to creat more industries in the mining sector.

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