Interfax China reported that Minerals and Metals Group has committed to invest USD 60.4 million to expand the production capacity at its Sepon copper operation in Laos.
MMG said that the expansion project will boost the annual refined copper production capacity from 65,000 tonnes to 80,500 tonnes. It will immediately commence the expansion project, which is expected to be completed in September 2010.
Mr Andrew Michelmore CEO of MMG said that the company is also looking to further expand the Sepon copper operation to 83,000 tonnes per annum in the future. The deposit's previous owner OZ Minerals Limited had spent USD 103 million on the project and suspended production in late 2008.
The Sepon copper operation, located in the outskirts of Sepon City in the Savannakhet Province of south central Laos, commenced copper production in early 2005 and gold production in December 2002. In addition, MMG has pledged to invest another USD 24 million to construct a tailings storage facility at its Golden Grove Mine in Western Australia which produces zinc, copper and lead as well as precious metal concentrates.
(Sourced from Interfax China)
