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Saturday, 25 September 2010

Mine Watch (Various)

There has been a spate of recent stories regarding mining. Thought it was worth pulling these together.

Peru’s leading copper miner, AAC Mining Executors has allegedlyy invested more than USD 20 million in Zambia to increase production of the metal as it expands outside Peru. The company is seeking further expansion because "high copper prices on the international market had seen the rise in Zambia’s mining profile with major mining firms running to them for help".

Mukuba Resources, exploring for copper in Ndola, has confirmed the presence of copper mineralisation after the announcement of assay results from the first eight boreholes drilled on its Northcore Project on the Copperbelt. The firm said assay results from boreholes drilled at targets 17 and 18 on Northcore Project, arose from the first phase of the company’s 2010 drilling programme. Detailed results via MarketWire.

On the uranium front, American mining firm Denison recently that it will start its uranium mining project in Zambia in 2012 "once prices of the metal on the London Metal Exchange (LME) picks up". The government granted Denison two large-scale mining licenses for uranium mining in 2008.

Finally, reports of miners in North Western province forming a rival miners' union group, Allied Workers Union of Zambia, to represent workers at Kansanshi and Lumwana Copper Mines. According to one source, "The new union has been meeting various government officials who have promised them support; the current government is uncomfortable with the two unions in the Copperbelt because they have been opposing government policies".

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