ZCCM-Investments Holdings Plc (ZCCM-IH) has approved a 498 million United States Dollar Tailings Leach Plant at Konkola Copper Mines (KCM)’s Nchanga operation in Chingola.

The approval means that ZCCM-IH which holds a 20.6 percent stake in KCM has given the firm a go ahead to proceed with implementation of the project.

ZCCM-IH Corporate Affairs Manager, Loisa Mbatha has told the media in a statement that the project will reprocess tailings from the TD5 dam at Nchanga to deliver approximately 70,000 tonnes of copper cathode a year at full capacity.

Ms Mbatha said the plant will be funded by KCM and is outside Vedanta Resources’ initial 1 billion United States dollar investment programme for KCM.

“Importantly, the project will not require any capital contribution from ZCCM-IH, as KCM’s equity contribution will be financed from internally generated resources,” she said.

Meanwhile, ZCCM-IH Chief Executive Officer, Kakenenwa Muyangwa described Nchanga’s tailings as one of the largest secondary copper resources in Africa.

Mr Muyangwa said the project will support the Grow Zambia Agenda by contributing to the 3 million metric tonnes target of copper production per annum by 2031.

He pointed out that the project will allow KCM to acquire copper from existing resources without mining a single tonne of the mineral.

“Using the latest technology, this plant turns them into around 70,000 tonnes of LME Grade A cathode a year without mining a single new tonne of ore.  It is exactly the growth we want across our portfolio. It means more copper from assets that already exist, in support of Zambia’s path to 3 million tonnes and the Grow Zambia agenda,” Mr Muyangwa said.

The project is expected to be constructed in two years following KCM’s decision to sign a 498 million United States dollar engineering, procurement and construction agreement with China NERIN Engineering last month.

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