Hidden Secrets Of Lumwana – World’s Largest Undeveloped Deposits (Copper, Gold, Cobalt & Uranium) | Zambian Chronicle

Hidden Secrets Of Lumwana – World’s Largest Undeveloped Deposits (Copper, Gold, Cobalt & Uranium) | Zambian Chronicle:

Hidden Secrets Of Lumwana – World’s Largest Undeveloped Deposits (Copper, Gold, Cobalt & Uranium)

Posted by brainsplus under africa, African nation, Blogroll, brainwave mumba, Cobalt & Uranium, Copper, Equinox, FDI, Gold, Hidden Secrets Of Lumwana, International Monetary Fund, mining, money, riches, Rio Tinto, World Bank, World’s Largest Undeveloped Deposits, zambian economy
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Lumwana comes with a lot of serious hidden secrets … despite having been discovered over 70 years ago, it was not fully developed. But why?? Because at the time of discovery, it was learnt that its ore’s copper content was lower than the best grade available in other regions such as those on the Copperbelt. 

Initial metallurgical studies were mainly focused just on copper and no other mineral contents were premeditated. The Ministry of Mines carried other tests with the help of students from the School of Mines at UNZA in the late 80’s and new discoveries were found … it was this group that issued new metallurgical maps for Zambia showing new mineral reserves around the nation.                                                                                                  

The study showed that Lumwana is a multi-element deposit with significant gold, cobalt and uranium grades distributed throughout the deposit but the government was too broke to pursue the project due to the ongoing Structural Adjustment Program (SAP) imposed by the World Bank and International Monetary Fund at the time. 

So, what we have at Lumwana is a total hidden package with just as much copper, as much gold, as much cobalt, and as much uranium – this has been the serious hidden secret of the hidden treasures that lie under the soils of Lumwana making it the world’s largest undeveloped deposits with a 321Mt ore reserve grading at 0.73% Cu and 0.093% U308.  

This means that once commissioning is completed in mid-2008, Lumwana will be well on its way to becoming the largest copper, gold, cobalt and uranium producing mine in Africa. As we unearth for copper, we would have the benefit of doing the same for gold, cobalt and uranium. 

This excavation process provides for maximum utility as the economies of scales are exploited to the fullest extent because we would dig for the price of one but sell for the price of four. As we yank out one stone from the ground, we produce four products from it … it can’t get any better than that!!!

If my memory serves me right, Equinox holds mineral rights for copper and uranium but they should be allowed to extend those to gold and cobalt that way the ore’s extraction may yield the largest benefit. These secretly hidden treasures at Lumwana have the capacity to attrack over a billion dollars ($1 billion) in Foreign Direct Investment (FDI) for the Zambian Enterprise … thanks a trillion.