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China's Zijin Mining said on Wednesday that its joint venture copper project Kamoa-Kakula in the Democratic Republic of Congo (DRC) will spend $50 million to upgrade its metal capacity and production
.
As part of the plan, Ivanhoe Mines Canada, a key partner in Zijin, holds a 39.
6 percent stake each, and the Kamoa-Kakula project will increase the capacity of its concentrator by about a fifth, the Chinese company said in a
filing.
Zijin said the "debottlenecking plan" will increase the combined design processing capacity of the concentrator processing plant to process ore brought from the mine from 7.
6 million tons to 9.
2 million tons
per year.
Zijin said the plan will also increase the plant's annual copper production from a previous estimate of 400,000 tons to more than 450,000 tons, making Kamoa-Kakula the world's fourth-largest copper producer
.
"It is expected to spend about $50 million to modify certain pipes and equipment
for continuous production.
The program is expected to take about 12 months to complete
.
”
Zijin added that a third, larger concentrator is being designed, which is expected to be operational
in the fourth quarter of 2024.
In addition to Zijin and Ivanhoe, the DRC government owns 20% of Kamoa-Kakula and Crystal River Global Limited owns 0.
8
%.
It is reported that the investment of US$769 million in the smelter was approved in November 2021 to reduce the project's reliance
on third-party smelters for ore processing.
The plant is expected to take three years to build
.
China's Zijin Mining said on Wednesday that its joint venture copper project Kamoa-Kakula in the Democratic Republic of Congo (DRC) will spend $50 million to upgrade its metal capacity and production
.
As part of the plan, Ivanhoe Mines Canada, a key partner in Zijin, holds a 39.
6 percent stake each, and the Kamoa-Kakula project will increase the capacity of its concentrator by about a fifth, the Chinese company said in a
filing.
Zijin said the "debottlenecking plan" will increase the combined design processing capacity of the concentrator processing plant to process ore brought from the mine from 7.
6 million tons to 9.
2 million tons
per year.
Zijin said the plan will also increase the plant's annual copper production from a previous estimate of 400,000 tons to more than 450,000 tons, making Kamoa-Kakula the world's fourth-largest copper producer
.
"It is expected to spend about $50 million to modify certain pipes and equipment
for continuous production.
The program is expected to take about 12 months to complete
.
”
Zijin added that a third, larger concentrator is being designed, which is expected to be operational
in the fourth quarter of 2024.
In addition to Zijin and Ivanhoe, the DRC government owns 20% of Kamoa-Kakula and Crystal River Global Limited owns 0.
8
%.
It is reported that the investment of US$769 million in the smelter was approved in November 2021 to reduce the project's reliance
on third-party smelters for ore processing.
The plant is expected to take three years to build
.
