Lumwana Mining Company

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Prior to 1999, Lumwana was a rural village. In 1999, Equinox Minerals Limited acquired the nearby Lumwana Copper Mine. Over the next ten years, working with its Zambian subsidiary, Lumwana Mining Company Limited, Equinox carried out feasibility studies, sourced financing and constructed the present infrastructure. wiki A report from 2013 noted that Barrick Gold "acquired the mine amid soaring copper prices as part of a US$7.3 billion takeover of Equinox Minerals Ltd. The industrial metal’s price has since fallen by about 25 per cent, forcing many other miners to also take writedowns." [1]

"The Lumwana copper mine is located in Zambia, in one of the most prospective copper regions in the world. Lumwana ore, which is predominantly sulfide, is treated through a conventional sulfide flotation plant, producing copper concentrate for smelting.

"In 2012, Lumwana produced 179 million pounds of copper at C1 cash costs of $3.07 per pound1 and C3 fully allocated costs of $4.62 per pound1. The mine is expected to produce 210-250 million pounds of copper in 2013 at C1 cash costs of $2.70-$3.10 per pound1 and C3 fully allocated costs of $3.20-$3.60 per pound1." [1]

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  1. barrick Lumwana Mining, organizational web page, accessed May 31, 2013.