Earthstone Metals Group, ("Earthstone" or the "Company") is pleased to announce a new business development initiative in its mining operations in Zambia. "Earthstone Resources (Zambia) Ltd." has initiated development of Lusaka Copper Smelters Plant at Kabwe with an annual target production of 5,000 tons of recovered copper.
The Kabwe industrial area has a long history of processing of different types of ores, in fact the name itself Kabwe-Ka Mukuba means 'ore' or 'smelting'. One of the oldest in the world Kabwe zinc and lead mine is currently experiencing procedures of its re-opening. Eathstone's Lusaka Copper Smelters Plant is located in the mining territory of the Kabwe zinc and lead plant, and currently extensive groundwork activities are on the way. The Company's analytics department carefully evaluated economic and industry situation in Zambia, and it was determined that in current situation it is feasible to open a small-scale smelter facility that may successfully process the copper ore - the one that is not economically cost-effective for large scale facilities that exist in the area.
As of today the Company has procured two blast furnaces with production rates of 4 and 8 tons of recovered copper; their commencement dates being planned at the end of May and June, respectfully. In the coming weeks installation shall be completed and smelter operations are scheduled to be arranged in two shifts. Earthstone has hired 15 personnel undergoing extensive training; ancillary materials handling facilities are being build. At the same time the Company is engaged in multifaceted discussion with producers of high quality copper ore in the Central and North-Western provinces of Zambia and in DRC.
Mr. Raju Lalchandani, Managing Director, Earthstone Resources Zambia Ltd. comments: "Lusaka Copper Smelters Plant marks another step in corporate initiatives aimed at adding value to our mining operations in Zambia. Strategic location of the plant in Kabwe mining area provides us with ability to use well-established procedures and methods, as well as with abundance of quality experienced personnel. This initiative is another element in a series of developments that are undertaken by Earthstone's management, advisors, employees and our partners. Earthstone Metals Group is now well on its way to become one of the major players in African mining."
About Earthstone Metals Group
Earthstone Metals Group, part of the Earthstone Group (Earthstone Holdings, Ltd.), is a mining company focused on identifying, and developing non-ferrous minerals mining assets globally. The company is headquartered in Dubai (UAE) with primary operations in Indonesia. The company is currently operating three manganese concessions in Mansa, Luapula province, Zambia, Mufumbwe copper project in Zambia, Africa and Banten zinc project in Java, Indonesia.
About Earthstone Group
Earthstone Group is a diversified multinational Group with established presence in Mines and Minerals and developing interests in Energy, Roads, Airports, Ports, Rail Networks and other associated Infrastructure. Acting through its subsidiary companies the Group secured 100% Economic Rights in Coal, Iron Ore, Lead Ore and Manganese Ore properties in Indonesia. We are actively pursuing opportunities in a number of Asian and African countries for Coking Coal, Uranium, Gold and Thermal Coal Mining.
Contacts:
Earthstone Metals Group
communications@earthstonegoup.com