· It is reported that the China Non-Ferrous Metal Company (CNMC) Luanshya Copper Mines (LCM), is exploring the reopening of Shaft 28 and Lufubu mines in view of the soaring copper prices in the global market.
· According to parliamentarian Nathan Chanda, CLM had assured him that it will reopen Shaft 28 and Lufubu mines once the copper prices hit between $8-$10 thousand US per tonne.
It is reported that the China Non-Ferrous Metal Company (CNMC) Luanshya Copper Mines (LCM), is exploring the reopening of Shaft 28 and Lufubu mines in view of the soaring copper prices in the global market. According to parliamentarian Nathan Chanda, CLM had assured him that it will reopen Shaft 28 and Lufubu mines once the copper prices hit between $8-$10 thousand US per tonne.
The London Metal Exchange indicates that currently, LME copper is trading at $ 10,278 per tonne. He clarified that during his tenure as mayor of Luanshya, in one of his discussions with CLM, assured him that once copper prices reach between $8,000 and $10, 000 per tonne they will consider reopening of 28 shaft and Lufubu mine. He pointed out that Luanshya and Roan constituency is predominantly mining towns, and reopening Shaft 28 to mining activities will help spur the district economy and create jobs.
A spokesman of LCM said that the mine is undertaking feasibility studies in a number of areas and that future action would be announced once studies were completed. Shaft 28 got flooded in February 2008 and since then became unfunctional. According to reports it still holds an estimated 80 million cubic liters and will take a long time to drain.
