Vale is set to start developing the Konkola North copper project in Zambia, Africa. Capital expenditure for the project is estimated at around US$400 million and production is forecast to begin in 2013. It is a 50-50 joint venture with African Rainbow Minerals Limited (ARM).
The mine, whose expected life is 28 years, should reach peak capacity in 2015. Estimated nominal production capacity is 45,000 metric tons of copper concentrate a year, with potential to rise to 100,000 metric tons a year as of 2020.
Our investment in Konkola North, in Zambia’s rich copper belt, is underpinned by Vale’s long history of successful large-scale mining project development in tropical environments.