Kipushi metals venture

JOHANNESBURG – South Africa’s biggest iron ore producer Kumba Resources has renewed a joint venture on the possible redevelopment of the Kipushi copper and zinc mine in DRC with Canada’s Adastra Minerals Inc, Kumba said on Friday.

A reassessment is due to be completed in November 2005 of the Kipushi mine, which has a measured and indicated resource of 16,9 million tonnes, with an average grade of 16,7 per cent zinc and 2,2 per cent copper, a statement said. Under the joint venture, Kumba can earn a 50 per cent shareholding in the Kipushi project, located in the south of the DRC around 30 km southwest of Lumbumbashi.Kumba, which also has interests in base metals, heavy minerals and coal, is majority-owned by mining giant Anglo American Plc.Zinc and copper were produced at the Kipushi mine from 1925 to 1993, but production was halted due to a lack of foreign exchange and operating supplies.Kumba owns the Zincor zinc refinery in South Africa with an annual production capacity of 120 000 tonnes of refined zinc.During the first six months of 2005, Kumba produced 64 000 tonnes of zinc concentrate and 60 000 tonnes of refined zinc.- Nampa-ReutersUnder the joint venture, Kumba can earn a 50 per cent shareholding in the Kipushi project, located in the south of the DRC around 30 km southwest of Lumbumbashi.Kumba, which also has interests in base metals, heavy minerals and coal, is majority-owned by mining giant Anglo American Plc.Zinc and copper were produced at the Kipushi mine from 1925 to 1993, but production was halted due to a lack of foreign exchange and operating supplies.Kumba owns the Zincor zinc refinery in South Africa with an annual production capacity of 120 000 tonnes of refined zinc.During the first six months of 2005, Kumba produced 64 000 tonnes of zinc concentrate and 60 000 tonnes of refined zinc.- Nampa-Reuters