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Friday, 5 October 2012

Mining Watch (Various)

Government is working on a legal framework that will compel all mining companies, including gemstones, operating in Zambia to disclose their production capacity and all material payments they make to the Government. Mines Minister Yamfwa Mukanga says this is part of an effort to promote transparency and accountability in the mining sector.

Australia-based Kaboko Mining is expanding its interest in Zambia by entering into an additional joint venture (JV) agreement to acquire an initial 51% of a manganese project, north of its existing Peco project. Kaboko has also secured a debt facility to advance its exploration and drilling activities in Zambia.

SA LIME and Gypsum Zambia Limited plans to set up a quarry and agricultural lime plant in Central Province. The project will have the capacity to produce 60,000 metric tonnes of agricultural lime annually. The proposed project will be implemented in three phases over five years.

Konkola Copper Mines (KCM) has set aside US$15 million for mineral explorations in the country with a view of extending the company’s footprint and enhancing production.

Mkushi Copper Joint Venture Limited is pledging to invest about US$62 million to develop a large-scale copper mine in Mkushi district as it seeks to reverse a default notice of its mining license by Government. The license was suspended earlier this year due to failure to develop the mine.

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