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Thursday, 4 April 2013

Mining Watch (Anglo American)

Anglo American has returned to Zambia to explore for copper after exiting a decade ago. Anglo is operating in North Western Province where the Ministry of Mines granted it two exploration licences in December 212. According to their spokesperson, “Anglo American sees Zambia as highly prospective for a number of commodities but is currently only interested in copper..we are undertaking early-stage reconnaisance and might drill this year" .

Anglo sold its stake in Konkola Copper Mines to Vedanta Resources in 2004 due to collapsing copper prices at the time. It's new interests are allegedly wider than publicly stated. Local district commissioners told the Times of Zambia that Anglo has expressed interest in exploring for copper, platinum, gold, cobalt, zinc and lead in Kalongo and Chavuma, and for oil and copper in Nyakulenga, Zambezi East.

Copyright © Zambian Economist 2013

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