Canadian Company Injects Funds into Zambia’s Copper Mine

Canadian company injects funds into Zambia’s copper mine

LUSAKA, July 13 (Xinhua) — A Canadian copper company has pumped 10 million Canadian dollars (about 9.5 million U.S. dollars) into the operations of a newly opened mine in Zambia that will commence production late this year.

The money is part of a 68-month budget that the International Copper Systems limited (ICS) has put into resuscitated operations at the former Zambia Consolidated Copper Mines shaft, according to Zambia News and Information Services.

The Canadian mining giant, which will run the newly opened mine as a joint venture with its Zambian partner North Western Platinum, is further expected to solicit for over 40 million Canadian dollars (38 million dollars) that would be invested into the mine.

ICS Director of Technical Services David Makepeace said in Mufulira Thursday that the newly opened mine is expected to produce in excess of 10,000 tons of copper annually and the mine has a life span of over 20 years.

He said that apart from copper ore, other minerals such as azurite, malachite, chalcopyrite, chalcocite and bornite are expected to be mined from the Mokambo mine, according to the report.

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