Deal #5127

Zambia
Created at
2016-07-21
Last update
2021-12-20
Last full update
2017-01-27

Land area

Comment on land area
Size not known.

Intention of investment

Intention of investment
  • [current] Mining
Comment on intention of investment
The Baluba Centre Mine produces copper concentrate

Nature of the deal

Nature of the deal
Exploitation permit / license / concession (for mineral resources)

Negotiation status

Negotiation status
  • [2009, current] Concluded (Contract signed)
Comment on negotiation status
CNMC acquired an 85% stake in Luanshya Copper Mines in 2009 for US$ 50 million from Enya Holdings BV following the suspension of operations at Baluba Centre Mine.

Implementation status

Implementation status
  • [2009] In operation (production)
  • [2015] Startup phase (no production)
  • [2018, current] In operation (production)
Comment on implementation status
Previously owned by Enya Holdings BV - operations had been suspended by the company. Production resumed in December 2009 following the shutdown in 2008. The company decided to suspend operations and cut jobs at its Baluba mine due to plunging copper prices and power shortages in September 2015. Mine placed on care and maintenance. Project suspended but not abandoned. The mine was re-opened again in mid-2018. However, China Non Ferrous Metal Company considering shutting down Baluba Mine in 2022.

Contract farming

Contract farming
No