MOPANI Copper Mines says it will sink two more shafts in excess of 2,000 metres at its Mufulira and Mindola Mines in Kitwe as part of its US$1.1 billion investment earmarked for high profile projects.
President Edgar Lungu last week launched a US$323 million Synclinorium Shaft that is aimed at extending the life of the mine at Nkana beyond the current expected depletion dates of the existing reserves by 25-30 years.
Announcing the projects, Mopani chief executive officer Johan Jansen said the two shafts that would be sunk at Mufuliraand Mindola would be the deepest ever sunk in Zambia and the deepest copper mines on the African continent.
“Investments from our major shareholders Glencore since 2000 stands US$3.04 billion and is one of the single largest private investments in Zambia. A further US$ 1.1 billion investment has been earmarked for a number of other high-profile projects over the coming years,” Jansen said.
He said the shafts would help make operations more efficient and cost effective.
He said like the Synclinorium Shaft, the two would add a further 25-30 years of mining life to Mindola and Mufulira mines.
“What we want is to develop a world class operation that is safe, efficient and cost effective as well through investment and value to our stakeholders,” Jansen said.
He further congratulated Mopani’s major contractor for the Synclinorium Shaft, Murray and Roberts, for delivery of a world-class project.
Jansen said through such huge projects, the company would continue to significantly contribute to the government treasury for many years, amongst many other benefits.
Further, Jansen said Mopani wanted to realise its vision to be a profitable, sustainable and world-class copper producer by 2023.
Source: The Post Zambia