Zambia Consolidated Copper Mines Investment Holdings wants partnership with reputable local and international mining companies for financial and technical collaboration in the exploration of copper, manganese and other base metals and contribute to the country’s mineral wealth.
In an advertisement in the local media, dated December 5, ZCCM IH, the investments holding company said it seeks to collaborate with financial and technical partners to conduct mineral exploration in central, eastern and northern provinces of the country, using six prospecting licenses with an initial prospecting period of two years, renewable for a further five years, according to the provisions of the Mines and Minerals Act of 2008 of the country.
The six mineral prospecting licenses, in total covers an area of three thousand and nine hundred square kilometer and an initial assessments indicate mineralization of two or more of the diamond, gold, silver, copper, manganese, rare earth metals and coal.
ZCCM IH Investments Holdings Plc is an investments holding company listed on the Lusaka Stock Exchanges. The shareholders of the company are the government of Zambia and the private equity holders who hold 87.6 percent and 12.4 percent, respectively.
The private equity holders are domiciled throughout the world the world. Presently, the company portfolio is largely in the copper mining sector where most shareholdings range between 10% to 20% held in various established and significant copper mining operations.
ZCCM IH has shares in all the mines owned by the foreign companies operating in Zambia ranging between 10 to 20%. Foreign companies operating in Zambia include Vedanta Resources Plc, owners of Konkola Copper Mine, Meterox, owners of Chibuluma mine, First Quantum Minerals, owners of Kansanshi and Bwana Mkubwa, China Non Ferrous Africa Corporation, and First Quantum Minerals/Glencore AG International own Mopani Copper Mine.
(Filed by Mr Kapembwa Sinkamba SteelGuru Correspondent Zambia)
Source – SteelGuru