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Signature(s)

Amount
€ 85,000,000
Countries
Sector(s)
Zambia : € 85,000,000
Industry : € 85,000,000
Signature date(s)
29/11/2006 : € 18,000,000
29/11/2006 : € 19,000,000
29/11/2006 : € 48,000,000
Link to source

Summary sheet

Release date
6 July 2006
Status
Reference
Signed | 29/11/2006
20040146
Project name
Promoter - financial intermediary
Lumwana Copper Project
Equinox Minerals Ltd
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 80 million
Approx. EUR 709 million
Location
Sector(s)
Description
Objectives

Establishment of a new copper mine outside the traditional Copperbelt region, which includes two mining sites, one processing area and related infrastructure.

Production of copper in the form of concentrate for a period of 14 years from proven and probable reserves, while additional inferred resources provide the possibility of a considerable life extension.

Environmental aspects
Procurement

An independent EIA, compliant with EU Directive 97/11/EC, has been established. It includes social aspects, public consultation, a preliminary rehabilitation plan and an environmental management plan. It has been approved by the local competent authority, the ECZ - Environmental Council of Zambia. The project incorporates best industry practice and complies with the Bank's environmental statement and EU standards.

It is intended to award a single fixed price lump sum contract for the main item, the construction of the plant and infrastructure. All major contracts have been or will be awarded following international negotiations.

The procedures followed are in line with the Bank's Guide to Procurement.

Comments

Mining and Quarrying

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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