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Copper

In December 2009, Earthstone Metals Group expanded its operations in Zambia, with the acquisition of its first copper project - Mufumbwe copper tenement. 

Zambia is the seven largest producer of copper in the world. It hosts the second largest reserve of copper ore after that of DR Congo in Africa and holds 6% of the world’s known reserve. Copper production in the country has increased significantly to 572,793 tonnes in 2007 from a low of 256,884 tonnes in 2000, representing an increase of over 100%. Copper production at 276,374 tonnes for January to June 2008 was 7.6% higher than for the corresponding period in 2007. This was due to the increased capacity utilization facilitated by the continued increase in metal prices. The rise in copper production over the years is attributed to investment in rehabilitation of infrastructure and technological innovations in existing mines, the coming on board of new mines and the increase in existing mines, the coming on board of new mines and the increase in small – scale copper mining activities.

With the Mufumbwe project, the company’s current focus is on developing a significant operating division in Zambia and continuing to extend the operations in Zambia based around the Mufumbwe project.  


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