Mopani Copper Mines PLC plans to grow its production from the current 100,000 tons of copper annually to its full capacity of 225,000 tons of copper per year within the next 5 years.
Mopani Chief Executive Officer Charles Sakanya says the mine also intends to look at the viability of some dumps within its properties to extract an extra 50,000 tons of copper in an effort to maximize production towards government’s target of 3 million tons annually in the next 10 years.
Mr. Sakanya adds that with the $111 million new synclinorium replacing the 1932 concentrator, the mine has the potential to reach its full production in 3 to 5 years but will need another concentrator to double its output.
He says the mine is currently on a path to borrow $300 million from a financier, $14 million of which is already sourced in 2021, with the difference to be raised between 2022 and 2024.
Further, Mr. Sakanya says the mine still has 129 million tones in reserves, of which 106 million is at Nkana and 23 million at Mufulira while the new projects increased the lifespan of the mine by 25 to 30 years.