China’s Jinchengxin Mining Management Company Ltd (JCHX) owned Lubambe Copper Mines has posted a 10 percent increase in copper production in 2024.
The Shanghai-listed mining services and contracting firm recently bought an 80% stake in Lubambe from EMR Capital while the Zambia state firm – ZCCM IH holding the only remaining 20% stake in Lubambe.
According to the Minerals production reports obtained by the Zambian Business Times – ZBT, JCHX’s Lubambe copper mine production increased by about 1, 000 metric tons from January to August 2024.
This is in comparison to the Lubambe copper mine’s copper production of 9,960 metric tons from January to August 2023 which has now risen to over 11052 metric tons representing about a 10 percent increase in production.
Efforts to obtain a comment from JCHX’s Lubambe copper mines regarding the production surge proved challenging, as the Public Relations Officer was unavailable to respond to the inquiry at the time of press and only promised to provide further insights after internal consultations.
On 28th August 2024, ZCCM Investments Holdings PLC (ZCCM-IH) announced that it had reached an agreement with Jinchengxin Mining Management Company Ltd (JCHX) to acquire an additional 10% shareholding at US$1 in Lubambe Copper Mines Ltd (Lubambe) which is expected to be finalized next year and also expected to increase ZCCM-IH’s ownership in Lubambe from 20% to 30% only, and upon completion, JCHX’s stake will now adjust from 80% to 70%.
