Baluba underground copper mine run by Luanshya Copper Mines (LCM) has run out of copper reserves, announced the Ministry of Mines in Zambia. Mine owners will continue slag processing from the Black mountain to remain functional, reported the Zambian local media.
China Non-Ferrous Mining Corporation (CNMC) bought majority stakes in Baluba mines at $50mn in December 2009. CNMC then spent $70mn for modernizing the copper processing plant and increase mine’s output to 30,000mt from the earlier 21,000mt.
The local government had earlier stayed away from informing about the depletion of ore until after the elections in Zambia, the report said.
Currently, 1,500mt of low-grade ore is being explored from Baluba mine and 3,000mt of slag crushing is being done to balance production.