Times of Zambia reported that next year, Luanshya Copper Mines plc plans to start building a cobalt processing plant that is expected to cost over US$50 million.
As quoted in the market news:
[Deputy CEO Robert] Kamanga said in an interview in Lusaka that the plant, which would be constructed using feed from Baluba Mine, would be situated at Muliashi Mine.
He said preparations on the planned cobalt plant were currently going on and that the feasibility study had since been done.
‘We are embarking on the construction of the cobalt plant and this is going to cost us about US$50 million. Preparations have already started and basically we have reached a stage where we will start procuring of equipment,’ Mr Kamanga said.
Mr Kamanga said once constructions works start, it was expected to be completed in 12 months and would employ an additional 200 local people.