Mon, 10 Apr 2017 11:54:51 +0000 By Buumba Chimbulu MOPANI’S new US$323 million Synclinorium shaft and two new ones with a combined investment of US$560 million will come on stream in the next 12 months, says company chief financial officer, John Chiwele. Mr Chiwele explained that Mopani would gradually start to move down the cost curve as new production began to come on stream from the three new shafts over the next 12 to 18 months. “It will then take two to three years for each shaft to ramp up to full production. So Mopani’s grand objectives will be reached in full only in 2023 because mining is a long-term business,” he said. He was speaking to the Mining for Zambia recently, a Zambia Chamber of Mines initiative. Mr Chiwele said Mopani, wholly owned by Glencore, needed to modernise its ageing infrastructure to survive and compete in today’s world markets. “The significance of this […]
