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Zambia copper mine announces plans to close operations in 2021

Xinhua, January 24, 2017 Adjust font size:

Chibuluma South Mine, a unit of South Africa's Metorex Mining Limited, on Tuesday announced plan to close its operations in Zambia in 2021.

The mine, situated in Lufwanyama district on the Copperbelt Province, said operations will cease in 2021 because the ore body at the mine has depleted.

Jackson Sikano, the company's chairman and country manager said when Minister of Mines and Minerals Development Christopher Yaluma visited the mine that this will result in over 850 direct and indirect job losses, according to state broadcaster, the Zambia National Broadcasting Corporation.

According to him, the mine has an ore body of 1.3 million tons of copper in reserves, which will run out in the next four years.

The mine, he said, has been making losses since 2015, a development that has forced the mine to scale down its production and labor force.

But the Zambian minister assured the mine that the government will offer it a new green field, adding that the government was impressed with the good conduct of the mine despite the challenges it was facing.

Metorex is fully owned subsidiary of China's Jinchuan International. Endit