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Signature(s)

Amount
€ 14,000,000
Countries
Sector(s)
Zambia : € 14,000,000
Industry : € 14,000,000
Signature date(s)
9/08/2002 : € 14,000,000
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Summary sheet

Release date
29 April 2002
Status
Reference
Signed | 09/08/2002
20020016
Project name
Promoter - financial intermediary
Bwana Mkubwa Mining Expansion
First Quantum Minerals Ltd
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 14 million
Approximately EUR 35 million
Location
Sector(s)
Description
Objectives

Expansion of the Bwana Mkubwa hydrometallurgical copper production facility in Ndola (Zambian Copperbelt) from 10 000 t/a to 30 000 t/a of copper.

The project extends the useful life of the copper processing plant in Zambia by at least 6 years, thus adding value to Zambian's copper industry (at a time where it is facing a difficult transition period). It also allows valorising so far un-tapped high-grade copper resources located in an – economic – enclave in the DRC, just 40km across the border from Ndola.

Environmental aspects
Procurement

The promoter has identified all relevant issues and is taking mitigating measures where appropriate. Hence, the project complies with the Bank's environmental principle of minimisation of negative environmental impacts, and is deemed environmentally acceptable.

Following EIB's procurement rules in force for Risk Capital financing.

Comments

Mining

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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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