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Wednesday, February 26, 2020

Mopani to invest $1.3 billion in new shafts

Economy Mopani to invest $1.3 billion in new shafts

Copperbelt Province Minister, Bowman Lusambo, listens to Mopani Copper Mines Chief Executive Officer, Johan Jansen, in Kitwe
FILE: Copperbelt Province Minister, Bowman Lusambo, listens to Mopani Copper Mines Chief Executive Officer, Johan Jansen, in Kitwe

Mopani Copper Mines has announced a new US$ 1.3 billion investment in its mining operations in Zambia.

Company Board Chairman Moses Chilangwa has told a news conference in Lusaka today that the investment will go towards capital projects that include sinking and equipping three new shafts namely Synclinorium and Mindolo deep in Kitwe, and the Mufulira deep shaft.

Mr Chilangwa says the new shafts are expected to come online by the end of 2018 and will double Mopani’s output from the current 3.8 million tons of copper ore hoisted per annum to 9 million tons by 2020.

He has however, acknowledged that the past three years have been challenging for Mopani and all stakeholders in the industry as a result of low commodity prices on the international market coupled with the energy deficit.

Mr. Chilangwa has however, stated that despite the challenges being faced, Mopani remains resolute and fully committed to all its social responsibility programmes in communities around the country.

He adds that over the past three years Mopani has invested more than 1 billion United States dollars in its operations to recapitalize its mining operations and extend the lifespan of its mines by a further 25 to 30 years.

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4 COMMENTS

  1. That’s almost 10 million TONS of copper that shall be looted from our country by 2020, that’s incredible yet true. That’s also a lot of unimaginable $$$billion that shall be syphoned away from our ‘POOR’ country Zambia whilst we just watch…

    Unfortunately and due to our stupidly, ignorance of issues and happenings in the world today, we shall remain perpetually
    poor and continue dying from various treatable diseases including the dreaded HIV that has taken the “best cream” that Zambia has ever had, leaving only under fives in our midst scrounging as leaders. Very sad situation to be in indeed and there’s nothing we can do about it.

  2. Ilyashi lya Synclinorium lyatupesha! Epo lyayambila? Ba Dan Carlo baleimbapofye ngolwimbo basuka baya! Yayayayaya! Landeniko fimbi ba Mopaniiiii! I left it about 11 years ago.

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