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HIGH METAL PRICES TRIGGER LCM TO CONSIDER REOPENING CLOSED SHAFT 28

THE increased copper prices on the international market have triggered China Non-Ferrous Metal Company (CNMC) Luanshya Copper Mines (LCM), is to consider the reopening of Shaft 28 and Lufubu mines.

CLM had assured that it will reopen Shaft 28 and Lufubu mines once the copper prices hit between US$8,000 – $10,000 US per tonne.

The mine owners disclosed this when former Luanshya Mayor Nathan Chanda visited the mine today.

According to the London Metal Exchange (LME) copper is trading at US$10,278 the United States per tonne.

LCM Public Relations Manager Sydney Chileya said the mine is undertaking feasibility studies in a number of areas and that future action would be announced once studies were completed.

“As you, aware copper is a diminishing resource and once we mine out it’s not replenished, there we are carrying out feasibility studies in a number of areas as a way forward” he explained.

Shaft 28 got flooded in February 2008 and holds an estimated 80 million cubic litres and will take a long time to drain.

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