DOCSLIB.ORG

First Quantum Is the Fastest Growing Copper Producer in the World Today

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
First Quantum Is the Fastest Growing Copper Producer in the World Today 04 ANNUAL REPORT + 04 Highlights 41,546 114 31 28 29,513 17 60 51 11,878 5 (4) (4) 2002 2003 2004 2002 2003 2004 2002 2003 2004 2002 2003 2004 Copper Production Revenue Operating Cash Flow Earnings (Loss) (Tonnes) ($ millions) ($ millions) ($ millions) Cautionary Statement: Some of the information contained in this annual report constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the prices of copper, gold, cobalt and sulphuric acid, estimated future production, estimated costs of future production, the Company’s hedging policy and permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the ++++++ actual prices of copper, gold, cobalt, and sulphuric acid, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the Alberta, British Columbia, Quebec and Ontario Securities Commission and the United States Securities and Exchange Commission and the Alternative Investment Market operated by the London Stock Exchange. First Quantum is the fastest growing copper producer in the world today (All figures in US dollars where applicable, except where indicated.) • 2004 net earnings of $28.0 million or $0.47 per share. • Operating cash flow for 2004 of $30.7 million or $0.51 per share. • Bwana produced 41,546 tonnes (92 million pounds) of copper and 66,460 tonnes of surplus acid during 2004. • Cash costs (C1) for 2004 of $0.46 and total costs (C3) of $0.62 per pound of copper. • Commercial production at Kansanshi commenced April 2005. • Frontier copper deposit resource estimated at one million tonnes of contained copper. • Acquired 80% interest in the Guelb Moghrein copper-gold deposit in Mauritania. • New copper discovery at Kashime in Zambia. +++++ 2 First Quantum Minerals Ltd. is a growing mining company whose principle activities include mineral exploration, development, mining, and the production of LME grade “A” copper + cathode, copper in concentrate, gold and sulphuric acid. The Company’s operations include the 80% owned Kansanshi copper- gold mine in Zambia and the 100% owned Zambian/Congolese Bwana/Lonshi copper operation. In Mauritania, First Quantum is developing the 80% owned Guelb t Moghrein copper gold deposit and in the Democratic Republic of Congo (DRC) the Company has a 100% interest in the Frontier copper deposit and 11,000 square kilometres of exploration concessions. First Quantum also holds strategic investments in the Nkana underground copper mine and cobalt refinery (16.9%) and the Mufulira underground copper mine, smelter and copper refinery (16.9%) in Zambia. First Quantum remains focused on its core expertise of developing and operating copper mines as well as the discovery of new copper deposits throughout the world, in particular the Copperbelt in the DRC and Zambia. First Quantum Minerals Ltd. 2004 Annual Repor Corporate Profile 3 Strategic Goals To build a leading international mining company • Operate low cost mines. First Quantum Minerals Ltd. 2004 Annual Repor • Leverage our strategic advantage in the Copperbelt. • Exploit and develop our focused and cost effective exploration capability. • Utilize our management expertise to build new mines for less capital than industry norms. • Expand internationally through the acquisition of mines t that are unsuitable for the Majors. Shareholder Information First Quantum’s shares are listed on the Toronto Stock Exchange (symbol FM) and the Alternative Investment Market operated by the London Stock Exchange (symbol FQM). First Quantum is a member of the Standard & Poors/Toronto Stock Exchange Composite Index. 4 + t Copper First Quantum Minerals Ltd. 2004 Annual Repor The Red Metal Copper has been used by humans for over 7,000 years and marked the transition from the Stone Age to a more modern way of life. Today the use of copper continues to increase and forms a critical component of modern industry. ++++++ Copper is traded around the world with the principal trading occurring on the London Metal Exchange. 5 Wiring – Connecting Our Lives Electrical uses of copper, including power transmission and generation, wires for building purposes, telecommunication, and electrical and electronic products, account for about three quarters of total copper use – over 933,000 tons a year. Because of its properties of high ductility, malleability, and electrical conductivity, it has become the benchmark for almost all types of wiring. First Quantum Minerals Ltd. 2004 Annual Repor Plumbing, Heating & Cooling Among the hundreds of wonderful things copper is used for in and around our homes, it is probably recognized first as a plumbing material. For the past 75 years, copper tubing has been the most reliable and cost-effective option for distributing water to and through our homes for various applications. Environment & Health As copper never goes bad it can be recycled over and over again. It actually has the highest recycling rate of any engineering metal in the world. Copper also functions as a defense against germs. Because it is naturally biostatic, bacteria growth is inhibited on its surface. Many hospitals install copper or copper-alloy doorknobs, push panels and other hardware to protect against the transfer of disease. Surgeons are able to save lives and precious blood by using copper-clad scalpels. t Technology – Computer Chips Copper is one of the best conductors of electricity, making it heralded by all computer chip manufacturers. It is now possible for chip makers to use copper wires, rather than traditional aluminum interconnects, to link transistors in chips. This technology enables conductor channel lengths and widths to be significantly reduced. The result is much faster operating speeds and greater circuit integration. Up to 200 million transistors can be packed onto a single chip. The use of copper conductors in chips is the last link in a now unbroken copper chain comprising the electric data path between user and computer. From external cables and connectors to bus ways to printed circuit boards, sockets and leadframes, it's all copper. Copper & Cars There's more than 55 pounds of copper in a typical U.S. built automobile: about 45 pounds for electrical and about 10 pounds for nonelectrical components. Today's luxury cars, on average, contain some 1,500 copper wires totaling about one mile in length, thanks to continuing improvements in electronics and the addition of power accessories. In 1948, the average family car contained only about 55 wires amounting to an average total length of 150 feet. (from www.copper.org) +++++ 6 + t First Quantum Minerals Ltd. 2004 Annual Repor Letter to Shareholders Philip K. R. Pascall, Chairman & CEO ++++++ 7 2004 has been a year of transformation for First Quantum with the successful commissioning at Kansanshi, the acquisition of the Guelb Mognhrein copper-gold project in Mauritania, the improved copper production from Bwana Mkubwa, and the continuing success of our exploration program. With the ongoing success of the Company come increasing responsibilities. The Environment, Health and Safety are at the forefront of our planning and we have strengthened our management First Quantum Minerals Ltd. 2004 Annual Repor team substantially in these areas to ensure that the benefits of our success are shared by all stakeholders in our activities. State of the Industry In my letter to shareholders last year, I highlighted the problems besetting the mining industry with the strengthening demand for commodities offset by a growing shortage of the skills required, firstly to find new sources of metals and then to bring these new discoveries to market. If anything, the situation has worsened in 2004. Commodity prices have continued to strengthen, creating an upsurge in exploration and mine development activity worldwide. This has resulted in increasing shortages of skilled geologists and engineers as well as mining and processing equipment, consumables and services all of which will constrain the industry’s ability to respond to t the pressure for new supplies of commodities. Set against this background, the achievements of our Company in 2004 are a credit to the qualities of our excellent team of technical professionals and management and validate our long-term policy of seeking out, recruiting and retaining the best people in the industry. “...we have been The timing of the start-up of Kansanshi is very opportune given the delighted with the prevailing bull market in copper. While opinions differ as to the future of the copper market, we will continue to ensure that our operations will be support received highly profitable not only today but throughout the commodity cycle while from President providing an exceptional rate of return on invested capital. Kansanshi Copper-Gold Mine Mwanawasa and In April 2005, the Company announced that commercial production had the Government been achieved at Kansanshi, after a prioritized commissioning had commenced on November 11, 2004. of Zambia...” As expected with any commissioning, the mining program has faced a number of challenges including rain delays and reduced truck availability resulting from problems associated with the supply of tyres and spare parts, as well as fuel system faults. Notwithstanding these challenges, the Company, as at December 31, 2004 has still managed to stockpile 157,000 tonnes of sulphide ore and 1,039,000 tonnes of oxide ore for future processing. During the construction and commissioning we have been delighted with the support that we have received from President Mwanawasa and the Government of Zambia, which supports our +++++commitment to being a long-term investor in Zambia.
Load more

Recommended publications
  • CHAPTER 9 on 1 April 1924 Administration by the British South
    CHAPTER 9 On 1 April 1924 administration by the British South Africa Company ended and the Colonial Office took over direct responsibility for the government of Northern Rhodesia. Herbert James Stanley CMG was appointed the first Governor and Commander in Chief of the Territory. He was to be knighted later in the year. Herbert Stanley had joined the staff of the High Commissioner in South Africa in 1910 and was Resident Commissioner for Southern and Northern Rhodesia from 1915 until 1918. He had then become Imperial Secretary in South Africa. He was, therefore, well qualified for his new post. He was received at Government House by Colonel Stennett and inspected a guard of honour 100 strong under Major Dickinson accompanied by the band. Captain Castle acted as the Governor's ADC for the swearing in ceremony. Things did not go so smoothly for Stanley's first visit to Fort Jameson on 10 July. Captain Graham dismissed the guard of honour at dusk and the Governor arrived later that evening having been delayed in the two day motor journey from Blantyre, Nyasaland. The quickest route from Livingstone to Fort Jameson was still via Southern Rhodesia and Nyasaland. On 11 July Stanley inspected the police camp, gaol and other government buildings and lunched with Captain and Mrs Graham. On 12 July he held an indaba for which the Chewa formed up on the right, the Akunda on the left and the Ngoni, still organised in regiments, held centre stage. After the speechmaking by the Governor and chiefs, there were sports for all races, organised by Captain Graham.
    [Show full text]
  • Annual Report of the Colonies, Northern Rhodesia, 1928
    COLONIAL REPORTS—ANNUAL. [Grown Copyright Reserved.] No. 1470. NORTHERN RHODESIA REPORT FOR 1928 (For Reports for 1926 and 1927 see Nos. 1380 (price Is. Od.) and 1410 (price Is, 3d.) respectively). LONDON: PRINTED AND PUBLISHED BY HIS MAJESTY'S STATION EE Y OFFICE. To be purchased directly from H.M. STATIONERY OFFICE at the following addresses t Adastral House* Kingsway, London, W.0.8; 120, George Street, Edinburgh; York Street, Manchester; 1, St. Andrew's Orescent, Cardiff; 16, Donegal! Square West, Belfast; or through any Bookseller. 1930. Price Is. 3d. Net. 58-1470 CONTENTS. PREFACE I.—GENERAL II.—FINANCE III.—PRODUCTION ... IV.—TRADE and ECONOMICS V.—COMMUNICATIONS VI.—JUSTICE, POLICE, and PRISONS VII.—PUBLIC WORKS VIII.—PUBLIC HEALTH IX.—EDUCATION X.—LANDS and SURVEY XI.—LABOUR XII.—MISCELLANEOUS MAP. NORTHERN RHODESIA. ANNUAL REPORT, 1928. PREFACE. The territory known as the Protectorate of Northern Rhodesia lies between longitudes 22° E. and 33° 33' E. and between lati­ tudes 8° 16' S„ and 18° S, It is bounded on the west by Angola, on the north-west by the Belgian Congo, on the north-east by Tanganyika Territory, on the east by the Nyasaland Protectorate and Portuguese East Africa, and on the south by Southern Rhodesia and the mandated territory of South West Africa; comprising in all an area that is computed to be about 287,950 square miles. The River Zambesi forms the greater part of the southern boundary; its two main northern tributaries are the Rivers Kafue and Luangwa. With the exception of these river valleys, the territory consists of a table-land varying from 3,000 to 4,500 feet in height, though in the north-eastern portion, and especially in the vicinity of Lake Tangan­ yika, the altitude is greater.
    [Show full text]
  • An Overview of Copper Mining in Zambia's Copperbelt Province
    Title An overview of copper mining in Zambia's Copperbelt province Author(s) Sinkala, Pardon; Fujii, Yoshiaki; Kodama, Jun-ichi; Fukuda, Daisuke Citation Proceedings of Spring Meeting of MMIJ Hokkaido Branch, 2018, 35-36 Issue Date 2018-06-16 Doc URL http://hdl.handle.net/2115/70843 Type proceedings (author version) Note 2018 MMIJ Spring Meeting of Hokkaido Branch. June 16 2018, Kitami Institute of Technology, Kitami, Japan. File Information PardonSinkala_MMIJ-BH_20180616.pdf Instructions for use Hokkaido University Collection of Scholarly and Academic Papers : HUSCAP An overview of copper mining in Zambia's Copperbelt province Pardon SINKALA, Yoshiaki FUJII, Jun-ichi KODAMA and Daisuke FUKUDA Hokkaido University 1. Introduction saw an exceptional investment in the construction of new schools, hospitals and roads. Corresponding to the oil crisis of Copper production plays a vital role as one of the major driving 1974 and 1979, copper price declined and the economy of forces in Zambia's economy. On the overall, Zambia has about Zambia began to decline. In addition to falling copper prices, eight (8) major underground mines, and five (5) major open pit the industry faced a number of challenges such as lack of mines operating in copper production. These are private owned investment, over-staffing, poor technology, and the cost of companies with the government of the Republic of Zambia production relatively increased as mining progressed to deeper (GRZ) holding some shares. This paper illustrates a summary of levels in the underground mines, which left Zambia the 25th copper mining in Zambia's Copperbelt province in terms of poorest country in the world in 1994.
    [Show full text]
  • Lund University International Master's Programme In
    LUND UNIVERSITY INTERNATIONAL MASTER’S PROGRAMME IN ENVIRONMENTAL STUDIES AND SUSTAINABILITY SCIENCE An Assessment of the Economic, Social and Environmental Impacts of the Mining Industry A Case Study of Copper Mining in Zambia AUTHOR: SUPERVISOR: Priscilla Kaela Kangwa Dr Ransom Lekunze, Copperbelt Museum Department of Social and Economic Geography Buteko Avenue Lund University P.O Box 71444 Sölvegatan 12 Ndola 223 62 Lund Zambia. Sweden. Phone: +260 22617727 Phone: +46 739397478 Email: [email protected] Email: [email protected] May, 2008 1 ACKNOWLEGEMENTS First and foremost I would like to pay special gratitude to my employer, Copperbelt Museum for the financial and moral support they have given me during my studies in Sweden. Special mention goes to the Director, Mr. Siachoono and all the employees at the Museum. I would be out of line if I did not acknowledge the invaluable support and guidance provided by my supervisor, Ransom Lekunze during the conceptualization of the thesis and finally the write up. I would also like to thank LUMES professors who in one way or the other contributed to my successfully finishing the programme. I would also like to pay special appreciation to Fadina for his constructive criticism which helped shape the paper. Lastly I would like to pay my special gratitude to all my LUMES friends who made my stay in Sweden memorable. DEDICATION My special acknowledgement go to my sister Matilda Kangwa who has been a driving force behind who am today and this thesis is dedicated to her for making me. ABSTRACT The mining and mineral industry as sources of primary export income plays an important role in the economic and socio-political development of many developing countries, as these countries largely depend on the mining for their economic development.
    [Show full text]
  • Drills 64M @ 2.33% Copper Including 38M @ 3.5% Copper at Ndola West
    ARBN 108 066 986 October 19, 2006 Equinox Explores Copperbelt - Drills 64m @ 2.33% Copper including 38m @ 3.5% Copper at Ndola West THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN Equinox Minerals Limited (TSX and ASX symbol: “EQN”) (the “Corporation”) is pleased to announce drill results for its recently completed drill program at the Ndola West prospect including an intercept of 64m @ 2.33% Copper, including 38m @ 3.5% Copper. Ndola West has generated significant previous intersections (including 9.0m of 3.8% Copper) and interpretation of the geochemical and geophysical data by the Corporation suggests that copper mineralization could extend along a strike length of up to 4.5km. In addition to the Lumwana Copper Project at which mine construction commenced in April 2006, Equinox controls 100% (subject to a 70% ‘clawback option’ to Anglo American) of prospective tenements covering 19,300 km2 located predominantly in the Zambian Copperbelt and North Western provinces and referred to as the Zambezi Project. The Corporation’s exploration programs for 2006 have been designed to aggressively pursue high priority Copper, Cobalt and Uranium targets on these tenements. Located 5km west of the Zambian Copperbelt mining town of Ndola, the Ndola West prospect sits within the Kafue Dome which hosts many of the current major Copperbelt mining operations (see Diagram 1). Ndola West (as well as Ngala and Mwekere prospects), is located along the Lower Roan sequence which extends for approximately 90km along the border between Zambia and the Democratic Republic of Congo (‘DRC’).
    [Show full text]
  • Peeling Onions with Granny: on Being Moved to Collaborate
    Peeling onions with Granny: on being moved to collaborate Article Accepted Version Murjas, T. (2019) Peeling onions with Granny: on being moved to collaborate. Performing Ethos, 9 (1). pp. 37-53. ISSN 1757- 1987 doi: https://doi.org/10.1386/peet_00004_1 Available at http://centaur.reading.ac.uk/82870/ It is advisable to refer to the publisher’s version if you intend to cite from the work. See Guidance on citing . Published version at: https://www.ingentaconnect.com/contentone/intellect/peet/2019/00000009/00000001/art00004 To link to this article DOI: http://dx.doi.org/10.1386/peet_00004_1 Publisher: Intellect All outputs in CentAUR are protected by Intellectual Property Rights law, including copyright law. Copyright and IPR is retained by the creators or other copyright holders. Terms and conditions for use of this material are defined in the End User Agreement . www.reading.ac.uk/centaur CentAUR Central Archive at the University of Reading Reading’s research outputs online TERESA MURJAS University of Reading, UK Peeling Onions with Granny: On Being Moved to Collaborate ABSTRACT This article contemplates the work of UK-based artists’ collective Peeling Onions with Granny (POWG). It explores the synergies between four mixed-media projects. These centre on inter- generational legacies of forced displacement. Each artist discussed was born in the UK in the 1960s/70s. However, during or shortly after the Second World War, our parents and/or grandparents fell victim to Soviet mass deportations from Poland and Latvia to Siberia. The article reflects on the ethical dimensions of our creative engagement with these legacies.
    [Show full text]
  • Assessment of Water Pollution Arising from Copper Mining in Zambia: a Case Study of Munkulungwe Stream in Ndola, Copperbelt Province
    UNIVERSITY OF CAPE TOWN FACULTY OF ENGINEERING & BUILT ENVIRONMENT DEPARTMENT OF CHEMICAL ENGINEERING ASSESSMENT OF WATER POLLUTION ARISING FROM COPPER MINING IN ZAMBIA: A CASE STUDY OF MUNKULUNGWE STREAM IN NDOLA, COPPERBELT PROVINCE BY University of Cape Town LEE MUDENDA A thesis submitted in partial fulfilment of the requirements of the award of Master of Philosophy Degree in Sustainable Mineral Resource Development MDNLEE001 I The copyright of this thesis vests in the author. No quotation from it or information derived from it is to be published without full acknowledgement of the source. The thesis is to be used for private study or non- commercial research purposes only. Published by the University of Cape Town (UCT) in terms of the non-exclusive license granted to UCT by the author. University of Cape Town ABSTRACT Water pollution is recognized as one of the major environmental problems in the mining industry. This has been compounded with an increase in agriculture activities. Water pollution is a major problem on copper and coal mines throughout the world and Zambia, the focus of this study, is no exception. Worldwide freshwater resources, which provide important ecosystem services to humans, are under threat from rapid population growth, urbanization, industrialization and abandonment of wastelands. There is an urgent need to monitor and assess these resources. In this context, the physical, chemical and ecological water quality of the Munkulungwe Stream located on the Copperbelt of Zambia, was assessed with possible contamination from Bwana Mkubwa TSF, agriculture activities and subsequent impact on the surrounding community. The chemical and physical parameters were assessed at four sampling locations.
    [Show full text]
  • Living Documents DGIS-TMF Programme Managing the Miombo Economic Crisis Threatens People and Nature in Zambia’S Copperbelt
    ZambiaProef 06-07-2005 12:45 Pagina 1 WWF Living Documents DGIS-TMF Programme Managing the Miombo Economic Crisis Threatens People and Nature in Zambia’s Copperbelt • Coming home to the forest • Agriculture rides on the back of fuelwood • The strong women of Luanshya • Big influence, big polluter The Kafue River provides water and food for up to 40 percent of Zambia’s population. Any unsustainable use of natural resources in the river’s basin - like the discharge of effluent by the copper mines or the harvesting of wood for charcoal production by thousands of jobless former miners - therefore affects not only local people but also communities downstream. A new WWF project aims to contribute to improved livelihoods in the Kafue Basin through integrated forest, water and land management. ZambiaProef 06-07-2005 12:45 Pagina 2 LIVING DOCUMENTS WWF DGIS-TMF Programme Introduction The biggest charcoal consumer in Southern Africa The collapse of copper prices in the 1990s forced many officers are not in a position to stop the ongoing mines in the Copperbelt to close, leading to a massive loss encroachment of the remaining forest areas. A lack of of jobs. Having no place to go, most former mine workers funds and of transport means that they spend most of their time sitting idly in their offices. settled in nearby rural areas and tried to make a new The desperate economic situation of the living out of the area’s natural resources. The population, in combination with the poorly resourced unsustainable harvesting of wood for charcoal production government departments, has resulted in the and clearing for maize fields is likely to deal a final blow depletion of the Copperbelt’s wet miombo forests at to the Copperbelt’s already severely threatened the alarming rate of 1.9 percent per year (other estimates go as high as a 5 percent annual loss).
    [Show full text]
  • A Case Study on the Operation of a Flottweg
    The Southern African Institute of Mining and Metallurgy The Fourth Southern African Conference on Base Metals Nils Schwarz A CASE STUDY ON THE OPERATION OF A FLOTTWEG TRICANTER® CENTRIFUGE FOR SOLVENT-EXTRACTION CRUD TREATMENT AT BWANA MKUBWA, NDOLA, ZAMBIA by Anthony Mukutuma – Bwana Mkubwa Mining Ltd. ([email protected]) Nils Schwarz – Schwarz Global Consulting. ([email protected]) Gift Chisakuta – Cognis Corporation. ([email protected]) Bravo Mbao – Bwana Mkubwa Mining Ltd. ([email protected]) Angus Feather – Cognis Corporation. ([email protected]) Presented by Nils Schwarz Page 393 The Southern African Institute of Mining and Metallurgy The Fourth Southern African Conference on Base Metals Nils Schwarz ABSTRACT Bwana Mkubwa is a 50 000 tons per annum copper cathode producer, owned by First Quantum Minerals and located in Ndola, on the Zambian Copperbelt. The Bwana Mkubwa solvent-extraction circuit was started up in 1997. In 2002, the plant began treating ore from First Quantum’s Lonshi mine located in the Democratic Republic of Congo. The Lonshi ore is exceptionally fine and the amount of solids in the feed solution reporting to the solvent-extraction feed solution increased dramatically. Initially, crud was filtered in a filter press, but this rapidly blinded and seldom produced anything better than a wet sludge containing large quantities of organic. In December 2003 the decision was made to install a Flottweg Z4E-3/441 Tricanter® centrifuge to recover organic from the crud. The installation was completed in June 2004 and has since led to significant improvements in plant operability and savings in organic consumption.
    [Show full text]
  • Proposal from the Management Committee To
    PROJECT SUMMARY INFORMATION: BWANA MKUBWA MINING EXPANSION (ZAMBIA) 1. Private sector Operation 2. The Project Expansion of the Bwana Mkubwa hydrometallurgical copper production facility in Ndola (Zambian Copperbelt) from 10 000 t/a to 30 000 t/a of copper. The project cost encompasses equipment for the processing plant in Zambia, the mine in DRC and the cross-border transport of the ore. 3. Financing Proposal Borrower: Bwana Mkubwa Mining Ltd (Zambia). Promoter: First Quantum Minerals Ltd (Canada) Amount: Up to EUR 14m, from risk capital resources Mandate: Second Financial Protocol of the Lomé IV Convention (Rallonge). Article 28 Member States’ Committee: The Committee gave a favourable opinion on the proposal at its meeting of the 18/04/2002. Financing plan: Total cost of the project is estimated at 35.5m EUR, to be funded essentially by recourse to loan financing. Shorter term financing is being provided by KBC Bank N.V., which has already contributed with 6.5m USD, and 12m USD are expected to be extended by Standard Chartered Bank Plc. This puts the Bank’s longer term finance at 39% of project cost and 46% of total external funding. 4. Value added identification Eligibility: Assistance to the mining sector is one of the tasks the Bank has been charged with under the Lomé Convention in the ACPs in general, and more particularly under the Zambian/EU indicative programme. Value added: There is a strong case, from a developmental point of view, to support Zambia with projects, like the one under review, which are profitable even at the current low copper prices and are promoted by dynamic smaller companies with a focussed business strategy.
    [Show full text]
  • Imasiku Nyambe (Keynote Lecture).Pdf
    Towards Understanding of Environmental Impacts on the Zambian Copperbelt and Kabwe Prof. Imasiku A. Nyambe UNZA IWRM Centre/Geology Dept. School of Mines, University of Zambia, Box 32379, Lusaka, Zambia SYMPOSIUM 6th November 2017, Hokkaido University – Academic Lounge 1-2, Japan Acknowledgement: Prof. Bohdan Kribek – Czech Geol. Survey 1. INTRODUCTION The Mining World Over 7,000 mines in the world developed providing the raw materials for industries and the energy minerals on which our society is so dependent e.g. Even the strengthening agent for the paper we are currently using. Significant minerals exploited in the SADC region 2. HISTORICAL BACKGROUND TO ENVIRONMENTAL IMPACTS Past 90 years Zambia’s economy and the health of its citizens dependent on copper and cobalt mining Mining activities were focussed on profit making with no regard to the ecosystem health and biodiversity. Figure 3: Distribution of In Zambia Copperbelt Geology copper-cobalt deposits in the Zambian Copperbelt. Names on the map include 1 Konkola, 2 Chililabombwe, 3 Nchanga, 4 Chingola Orebodies, 5 Chambeshi, 6 Chambeshi South East, 7 Mindolo, 8 Nkana, 9 Nkana South Limb, 10 Chibuluma, 11 Chibuluma West, 12 Chibuluma South, 13 Muliashi, 14 Baluba, 15 Baluba East, 16 Mufulira, 17 Mbwana Mkubwa. Exploitation Underground Mining Methods: Examples used on the Copperbelt Exploitation - Ore Processing Mineral Dressing: 1. Ore Crushing 2.Concentrating - Concentrators 3.Smelting – smelters 4.Refining - Refineries (i) Large-scale Mining Ownership of Copper Mines in Zambia.
    [Show full text]
  • The Mineral Industry of Zambia in 2000
    THE MINERAL INDUSTRY OF ZAMBIA By George J. Coakley Zambia is a landlocked country in southern Africa with an efforts to the mining sector. The Mines and Minerals Act area of 752,614 square kilometers, a population of 10 million officially put in place a mineral policy that calls for a people, and for 1999 (the latest year for which data were privatization program to encourage private development and available) a per capita gross domestic product (GDP) of $880,1 diversification of the mining sector. The act commits the based on 1999 purchasing power parity estimates. Overall, Government to promote small-scale mining; to development of mining and quarrying accounted for about 5% of real GDP, gemstone mining and liberalization of gemstone marketing 80% of merchandise exports, and about 38,500 jobs, or about facilities; to diversification of mining through development of 8% of total employment (Zambia Investment Center, April 19, industrial, ferrous, and energy minerals; to reduction of 1999, Zambia—Country profile, accessed February 12, 2000, at ecological damage arising from mining; and to promotion of URL http://www.zic.org.zm/profile.htm). In 1999, total local value-added processing of Zambia’s mineral raw merchandise exports were $842 million, of which copper materials. The law covers all mineral commodities and treats accounted for $372 million, and cobalt, $95 million. Fuel and large-scale, small-scale, and gemstone operations separately as energy imports accounted for $115 million of total merchandise to mineral rights (prospecting and mining authorizations). imports of $871 million. The mining sector was dominated by Export of radioactive minerals, such as monazite, is illegal copper and cobalt production.
    [Show full text]