- Lumwana Mining Company Ltd.
Lumwana Mining Company Ltd.
|Borrower||Lumwana Mining Company Ltd.|
|Financing Type||Private Sector & Trade Finance|
|Instrument||Private Sector Debt|
|Loan Administrator||OPEC Fund|
|Co-financiers||EIB, Equity, Asset-backed fleet, Hermes, AFDB, Other DFIs and ECAs, Commercial banks|
|OPEC Fund Contribution (US$m)||10.00|
This project involves the development of a large-scale operation to recover copper deposits located in the North-Western Province of Zambia, one of the country’s less developed areas. The Lumwana mine is one of two new open-pit operations in the country, whose development is expected to provide a substantial impulse to the country’s economy. Direct benefits will accrue to Zambia’s budget in the form of royalties, taxes and export proceeds, while local communities will benefit from the creation of over 1,000 job opportunities. A number of indirect jobs will also be created through a ‘trickle-down’ effect from the core activities of the mine.