Release date: 6 July 2006
Promoter – Financial Intermediary
Equinox Minerals LtdLocation
Description
Establishment of a new copper mine outside the traditional Copperbelt region, which includes two mining sites, one processing area and related infrastructure.
Objectives
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.
Comments
Mining and Quarrying
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
Approx. EUR 709 million
Environmental aspects
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.
Procurement
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.
Status
Signed - 29/11/2006