Following discovery of ore deposit in the 1920’s, initial mining commenced in the early 1950’s for 2 years before operations ceased. A number of exploration campaigns were undertaken on the area before African Rainbow Minerals (ARM) with Vale as a Partner acquired the mining licence in 1997. Following further exploration work and feasibility studies, construction commenced in 2010 with first concentrate sales in October 2012.
Copper production fell to 1,550 tonnes Cu per month (18,600 tpa) in 2017. ARM and Vale made the decision to sell their 80% shareholding.
In December 2017, EMR Capital of Australia acquired the 80% in LCM held by ARM and Vale. ZCCM-Investment Holdings (ZCCM- IH) holds the remaining 20% of LCM.
Since 2018, LCM has focussed on improving working practices and efficiencies at the mine, which is delivering improvements in performance.
In addition to the focus on improving performance in the existing mine area, EMR’s investment in LCM has also enabled LCM to advance studies for the potential development of what is known as the ‘Extension Area” ore body which lies 6km to the south of the existing Mine. The Extension Area is located within LCM’s existing mining lease. Based on the drilling and study work completed by LCM, the Extension Area potentially hosts one of the highest-grade undeveloped copper ore bodies globally.