Lumwana copper mines was commissioned in 2008 by Equinox minerals and production was started in December that same year.
Equinox Mineral limited was a holding company for Lumwana Mines. As at 25th April 2011, the holding company was taken over by a new holding company, the world’s largest gold miner Barrick Gold at US$ 7.68 billion. Where this transaction leads us – It remains to be seen.
Located some 220 kilometers to the west of the Zambian copper belt and 65 kilometers south west of Solwezi, the provincial capital of the north western province, Lumwana mine is the biggest copper mine in Zambia, and one of the biggest in Africa. It is in fact an extension of the traditionally copper mining and processing area of the copperbelt province.
Below are the news headlines on the Mine...
Extensive deposits of the ore were discovered in the area and the mining company (Equinox Minerals) has developed two open pit mines, Malundwe and Chimiwungo. Malundwe is the smaller of the two but it has a higher ore grade than Chimiwungo.
The mine is a multi-pit, multi staged operation, mining approximately 130Mt of ore and waste per annum and producing copper concentrates containing an average of 140,000 tonnes of copper metal per year over a thirty-seven (37) year mine life.
A lot of developments are underway and the construction of a new fully self-contained town, home to approximately 5,000 people, is among the developments. Lumwana is making a positive contribution to the Zambian economy, being the biggest single capital investment in the country's history. It is expected to produce about 20 per cent of Zambia’s total copper output once operational at full capacity.For More Info on Lumwana Mines Click Here!
March 2016 Zambian inflation rate was recorded at 22.2 compared to the February 2016 annual inflation rate which was recorded at 22.9 percent.
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