African Business News
Tue, 08 Jul 2008 09:51ZAMBIA
Equinox Minerals says production at its Lumwana copper mines will likely be delayed past its expected July start. That's after a fire damaged part of the processing plant at the project. Equinox says the fire damaged a power transformer and substation at the facility, adding that it anticipates a delay to project completion and handover as a result of this incident. The news pulled the Australian based company's shares down 5% on the Toronto Stock exchange. Experts say Lumwana will be Africa's largest open pit copper mine. It was meant to start partial production in July with around 169,000 tonnes of copper concentrate over its first 5 years of output.
NIGER - CHINA
The Chinese Dragon is continuing to spew fire on the African continent. The government in Niger has signed an agreement with China, to help improve its power supplies. Under the deal China will transfer several electrical power units. The deal comes as cities in Niger have been plagued by power outages. That's partly due to problems in supply from neighbouring Nigeria. Each unit is expected to provide 15 to 20 megawatts of power.
