Zambian copper mining giant Konkola Copper Mines Plc has announced that it will shut down its operation in Nchanga.
Konkola currently operates a smelter in Nchanga and said it will close the operation for 45 days between July and August to upgrade infrastructure.
In a media statement released on Tuesday, KCM is expected to fork out $27.63-million on the process and this will include a control system upgrade for the smelter with a capacity of 311 000 t/y, the company said.
“The shutdown works will benefit the smelter operations as it will enhance operational efficiency and production, which will then translate into increased revenue for KCM and its subsidiary, the KCM SmelterCo Limited,” it said.
KCM’s top priority is to ensure the asset is in good shape in order to sustain jobs while the Zambian government aims for a permanent solution for KCM – announced the mining company.
As things stand, the Zambian government owns 20% of KCM through the state mining investment firm ZCCM-IH.
The previous government handed control of KCM to a liquidator in 2019, triggering a dispute with Vedanta, which owns the other 80%.
Taking a look at a mining-related story, BusinessTech Africa previously published that trading in the London Stock Exchange, Contango Holdings had revealed that plans to export thermal coal in 2023 were underway.
Contango wants to export thermal coal from its Zimbabwe mine after a number of pleas from its clients in both Europe and Asia.
Mining Weekly reported that the company, Contango said that the company wanted to export 10 000 tons of coking coal.
As per the report, Zimbabwe’s neighbour, South Africa, noted an eight-fold increase in coal exports to Europe during the first half of 2022, after the European Union banned coal imports from Russia as part of sanctions for its invasion of Ukraine.
“Fuelled by the dramatic rise in thermal coal prices over the past 12 months … the board is now considering a coking and thermal operation, delivering 10 000 tonnes of coking coal and 10 000 tonnes of thermal coal per month based on current capacity in H1 2023,” Contango said in a statement.
