Mutanda Mine
Encyclopedia
The Mutanda Mine is an open-pit copper mine in the Katanga Province
of the Democratic Republic of the Congo.
in the Roan formation.
The property is close to the national road and railway line between Kolwezi and Zambia.
The Kando River runs about 2.5 kilometres (1.6 mi) from the southern boundary, providing ample water.
There is a good supply of electricity from the grid, with a 13.5MW standby generator.
At the end of 2010 the project was employing 930 people.
Facilities include a Dense Media Separation Concentrator and a Hydrometallurgical plant for crushing, screening, milling, pre-leaching, leaching, clarification and SX/EW.
In November 2011 Glencore confirmed that it should compete its expansion in December, bring up annual capacity to 110,000 metric tons of copper metal as planned.
Glencore made an investment of $650 million to develop this capacity.
held the remaining 20%.
Glencore also indirectly owns 37.5% of Kansuki, a copper and cobalt development project bordering Mutanda covering 185 square kilometres (71.4 sq mi). In August 2011 Glencore's CEO said the company planned to combine the two properties and to increase its share to over 50%.
In September 2011 the International Monetary Fund
asked for explanations from Sodimico
and Gecamines
, both state owned mining companies, of sales of assets below market value and without publicity. At the time, the IMF was providing loans to the DRC worth $561 million to improve the economy. Gecamines had recently sold its 20% share of the Mutanda project, worth an estimated $600 million, for $137 million.
The buyer was Rowny Assets, a company registered in the British Virgin Islands and "associated" with Dan Gertler
.
Katanga Province
Katanga Province is one of the provinces of the Democratic Republic of the Congo. Between 1971 and 1997, its official name was Shaba Province. Under the new constitution, the province was to be replaced by four smaller provinces by February 2009; this did not actually take place.Katanga's regional...
of the Democratic Republic of the Congo.
Location
The Mutanda Mine lies about 40 kilometres (24.9 mi)to the southeast of KolweziKolwezi
Kolwezi is a city in Katanga Province in the south of the Democratic Republic of the Congo, west of Likasi. It is home to an airport and a railway to Lubumbashi. The population is approximately 418,000....
in the Roan formation.
The property is close to the national road and railway line between Kolwezi and Zambia.
The Kando River runs about 2.5 kilometres (1.6 mi) from the southern boundary, providing ample water.
There is a good supply of electricity from the grid, with a 13.5MW standby generator.
At the end of 2010 the project was employing 930 people.
Resource
Annual production capacity is estimated at 20,000 tonnes of copper metal and 8,000 tonnes of cobalt in cobalt hydroxide, with expansion to 110,000 tonnes of copper metal and 23,000 tonnes of cobalt in cobalt hydroxide by the first quarter of 2012.Facilities include a Dense Media Separation Concentrator and a Hydrometallurgical plant for crushing, screening, milling, pre-leaching, leaching, clarification and SX/EW.
In November 2011 Glencore confirmed that it should compete its expansion in December, bring up annual capacity to 110,000 metric tons of copper metal as planned.
Glencore made an investment of $650 million to develop this capacity.
Ownership
Glencore International operates the mine and has a 40% stake in the mine through a 50% holding in Samref Congo, which in turn holds 80% of Mutanda. Until recently, the state-owned GecaminesGécamines
Gécamines, or La Générale des Carrières et des Mines, is a state-owned mining company in the Democratic Republic of Congo . Its principal products are copper , cobalt and zinc...
held the remaining 20%.
Glencore also indirectly owns 37.5% of Kansuki, a copper and cobalt development project bordering Mutanda covering 185 square kilometres (71.4 sq mi). In August 2011 Glencore's CEO said the company planned to combine the two properties and to increase its share to over 50%.
In September 2011 the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
asked for explanations from Sodimico
Sodimico
Sodimico is a state-owned mining company in the Democratic Republic of the Congo .-Early years:...
and Gecamines
Gécamines
Gécamines, or La Générale des Carrières et des Mines, is a state-owned mining company in the Democratic Republic of Congo . Its principal products are copper , cobalt and zinc...
, both state owned mining companies, of sales of assets below market value and without publicity. At the time, the IMF was providing loans to the DRC worth $561 million to improve the economy. Gecamines had recently sold its 20% share of the Mutanda project, worth an estimated $600 million, for $137 million.
The buyer was Rowny Assets, a company registered in the British Virgin Islands and "associated" with Dan Gertler
Dan Gertler
Dan Gertler is an Israeli businessman, the founder and President of the DGI Group of Companies. He has large interests in diamonds and copper mining in the Democratic Republic of the Congo .-Background:...
.