Nkana pledges to continue investment

NKANA Mining and Mineral Processing Limited company will continue to invest about US$100m to complete the second-phase hydrometallurgy project in Chambishi using the high temperature and high pressure oxysulfuric acid leaching process, company chairman Guoqing Zhu has said.

Mr Zhu said compared with the flotation process, this process can not only improve the recovery rate of copper element, but also recover the cobalt element in the slug, and truly realise solid waste utilisation.

Mr Zhu was speaking at the weekend at the processing plant in Chambishi when Finance and National Planning Minister, Situmbeko Musokowane and his delegation of between 20 to 30 officers toured the plant to familiarise themselves with operations of the company

“After the second phase of the project was completed and put into production, the annual output of cathode copper is 17, 500 tons and cobalt hydroxide is 8,000 tons (calculated according to the cobalt content of 35 percent, equivalent to 2,800 tons of metallic cobalt), which will not only greatly increase the economic benefits of the factory, increase government tax revenue, but also create 500 jobs,” Mr Zhu said

Mr Zhu said the company is investigating the smelting plant of Chambishi Metals to explore the feasibility of repairing and restarting Chambishi Metals’ pyrometallurgical electric furnace and hydrometallurgical production line.

After completing the feasibility study and if the conclusion reached is positive, Nkana Mining will seek to merge with Chambishi Metals, or buy the abandoned equipment that has been shut down for more than 10 years in the Chambishi smelter. After repairing and renovating it, it will be reopened.

And speaking later, Dr Musokotwane said, he was grateful Nkana Mining for inviting him and his entourage to visit the company to understand and appreciate its operations.

Dr Musokotwane said after the tour of the company, his perspective about the Chinese owned company had changed.