Release date: 29 April 2002
Promoter – Financial Intermediary
First Quantum Minerals LtdLocation
Description
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.
Objectives
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.
Comments
Mining
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 14 million
Total cost (Approximate amount)
Approximately EUR 35 million
Environmental aspects
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.
Procurement
Following EIB's procurement rules in force for Risk Capital financing.
Status
Signed - 9/08/2002
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).