RUDRA COPPER TO INVEST 41 MILLION DOLLARS
Written by admin on June 30, 2020
Rudra Copper Limited, a Chingola based company is set to invest 41 million US dollars in the processing of copper from the slag commonly known as the Black Mountain into Copper and cobalt.
The Company intends to establish a fully integrated copper industry with little or no waste as the by product will be transformed into pavers and other construction related materials.
This came to light when a Zambia Development Agency team led by the Board Chairman Fisho Mwale went for a familiarization tour of the company in Chingola recently.
Mr. Mwale disclosed that the company has so far invested over 10 million dollars whilst the remaining 31 million dollars will be invested over a period of 3 years.
He has commended the company for their investment which will create sustainable jobs on the Copperbelt and has encouraged local suppliers and small-scale miners to formalize their business to enable them tap into this business opportunity.
And Rudra Managing Director Siddharth Patel disclosed that they will also be sourcing the slag from mining companies across the country as well as local small-scale miners known as ‘Jerabos’.
This is contained in a statement issued to the media by ZDA Acting Communications and Public Relations Manager Kabwe Phiri.