Maravi

Kansanshi aims to produce 244,000 tons of copper

Kansanshi aims to produce 244,000 tons of copper
By Chiwoyu Sinyangwe
Wed 30 Dec. 2009, 04:00 CAT

KANSANSHI Mining Plc, the only foreign owned mine paying tax to the government, has said it is on course to produce the targeted 244,000 tonnes of copper this year.

According to environment manager, Richard Zyambo, Kansanshi Mining Plc, a unit of Canada's First Quantum Minerals, increased output by 19 per cent in the third quarter of this year compared to 15 per cent during the same period last year.

“In the third quarter, the company recorded production levels amounting to 61,300 tonnes whilst the same period in 2008 had recorded 53,000,” Zyambo told a stakeholders’ meeting held in Solwezi.

“With the current levels of production, it is envisaged that the company will reach the expected tonnage for 2009 which is at 244,000.”
Zyambo said the increase in production came after Kansanshi Mining Plc cut production costs at the mine.

“During the same period, the average cost of production decreased by 28 per cent in comparison to quarter three of 2008,” stated Zyambo. “This was attributed to the cost saving initiatives implemented in quarter four of 2008 and lower oil and sulphur prices.”
Copper mining is Zambia’s economic mainstay and the copper and cobalt producers are a major employer in the country.

Other foreign mining companies operating in Zambia include London-listed Vedanta Resources Plc, Equinox Minerals, Glencore International AG of Switzerland and Metorex of South Africa and the growing Chinese influence.

Labels: COPPER, KANSANSHI MINING PLC

posted by MrK @ 8:10 AM