AIRLINK 209.55 Decreased By ▼ -1.42 (-0.67%)
BOP 10.46 Decreased By ▼ -0.21 (-1.97%)
CNERGY 7.35 Decreased By ▼ -0.06 (-0.81%)
FCCL 34.39 Increased By ▲ 0.82 (2.44%)
FFL 18.05 Decreased By ▼ -0.36 (-1.96%)
FLYNG 22.92 Decreased By ▼ -0.70 (-2.96%)
HUBC 132.49 Increased By ▲ 1.10 (0.84%)
HUMNL 14.14 Increased By ▲ 0.04 (0.28%)
KEL 5.03 Increased By ▲ 0.05 (1%)
KOSM 7.07 Decreased By ▼ -0.09 (-1.26%)
MLCF 45.20 Increased By ▲ 1.44 (3.29%)
OGDC 218.38 Increased By ▲ 4.82 (2.26%)
PACE 7.58 Increased By ▲ 0.13 (1.74%)
PAEL 41.70 Increased By ▲ 0.17 (0.41%)
PIAHCLA 17.30 Decreased By ▼ -0.17 (-0.97%)
PIBTL 8.55 Decreased By ▼ -0.05 (-0.58%)
POWERPS 12.50 No Change ▼ 0.00 (0%)
PPL 189.03 Decreased By ▼ -0.57 (-0.3%)
PRL 42.33 Decreased By ▼ -1.98 (-4.47%)
PTC 25.17 Increased By ▲ 0.20 (0.8%)
SEARL 103.96 Increased By ▲ 0.59 (0.57%)
SILK 1.03 No Change ▼ 0.00 (0%)
SSGC 39.24 Decreased By ▼ -1.26 (-3.11%)
SYM 19.16 Decreased By ▼ -0.36 (-1.84%)
TELE 9.24 Decreased By ▼ -0.20 (-2.12%)
TPLP 13.10 Decreased By ▼ -0.40 (-2.96%)
TRG 69.18 Increased By ▲ 4.71 (7.31%)
WAVESAPP 10.72 Decreased By ▼ -0.18 (-1.65%)
WTL 1.71 Increased By ▲ 0.06 (3.64%)
YOUW 4.14 Decreased By ▼ -0.07 (-1.66%)
BR100 12,079 Decreased By -111.6 (-0.92%)
BR30 36,602 Increased By 19.8 (0.05%)
KSE100 116,053 Decreased By -202.4 (-0.17%)
KSE30 36,578 Decreased By -25.8 (-0.07%)

Congo's mineral-rich Katanga province has lifted a ban on exporting copper ore to Zambia, First Quantum Minerals Ltd said on Wednesday. "As of midday yesterday, First Quantum's Lonshi mine in the DRC has resumed trucking ore across the border to the company's processing plant in Zambia," a spokeswoman told Reuters.
The shipments were the result of a ban being lifted by the authorities, she added. On March 3, Governor Moise Katumbi closed the province's border with neighbouring Zambia to trucks transporting raw copper and cobalt ore, seeking to force mining companies to produce value-added processed products inside Katanga.
Later in the month, Katumbi lifted a ban on the export of processed copper to Zambia but maintained a prohibition on shipping ore, mining and transport executives said.
First Quantum's Lonshi mine is located around 35 km east of the firm's Bwana Mkubwa processing facility in Zambia. The operation produced 51,068 tonnes of copper cathode last year.
Following the end of a 1998-2003 war and Congo's first free elections in more than four decades last year - won by incumbent President Joseph Kabila - foreign investment has been picking up and firms are moving to dig new mines or restart old ones.
The Democratic Republic of Congo tumbled from being the world's fifth biggest copper producer in the 1980s at over 500,000 tonnes a year to only about 33,000 tonnes in 2000. But mine production is due to jump by 83 percent this year to 139,500 tonnes, according to Reuters Metal Production Database (MPD).

Copyright Reuters, 2007

Comments

Comments are closed.