MOPANI NEEDS $300M FOR SYCLINORIUM

By Musenge Mulimba

Mopani Copper Mines needs 300 million United States dollars to complete its expansion project in a bid to increase production.

The mining firm says once sourced, the money will be channeled into the completion of the Synclinorium, Mindola deep shaft, Henderson shaft in Mufulira and Synclinorium concentrator in Kitwe.

Mopani Chief Executive Officer CHARLES SAKANYA says once completed, the project will enable Mopani to increase production to 225,000 metric tonnes of finished copper per year, which is the current capacity of Mopani’s smelter.

Mr. SAKANYA says at the moment Mopani is producing an average of 100,000 metric tonnes of finished copper per year .

He was speaking during a meeting with Copperbelt Minister ELISHA MATAMBO in Kitwe last evening.

And Mr. MATAMBO assured Mopani that government will give the firm the necessary support to meet its set production target.

The minister also said he wants to see the mining firm level the playing field and give everyone an equal opportunity when it comes to business.

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