Zambian mine stops cobalt production

Production and Markets

Publishing Date: 15 Dec 2008 11:30am GMT
Author: Mining Journal

Zambia's largest cobalt producer Chambishi Metals plc has stopped production of the metal because lower copper and cobalt prices mean it is not viable, the southern African country's mines minister said.

However, Maxwell Mwale said the government was assessing options to ensure the troubled Luanshya copper mine does not shut its underground Baluba copper mine and will provide fresh investment to shore up the company.

"The smelter at Chambishi has been shut down because the high costs of production are not economical at the current copper and cobalt prices, but underground operations at Luanshya mine have continued and as government we want this to continue," Mr Mwale said.

LCM operates Chambishi as well as the Baluba copper mine.