9.5 C
Alba Iulia
Friday, June 5, 2020

ZCCM IH to form an exploration firm

Economy ZCCM IH to form an exploration firm

Zambia Consolidated Copper Mines Investment Holdings has announced plans to enter into exploration of base metals with the creation of an in house exploration arm to oversee the venture.

ZCCM IH Chairman Willa Mungomba told Reporters that the company is interested in venturing base metal exploration in Zambia as part of its reinvestment programme.

Mr. Mungomba said necessary documents has been developed and submitted to the Ministry of Finance and Mines and the Attorney General’s office for legal opinion.

He said ZCCM IH hopes that the new exploration firm would be operational by January 2013.

Mr. Mungomba said ZCCM IH would welcome local and foreign investment into the venture as a way of a stake.

ZCCM IH, with a market capitalization of USD 178 million is an investment holdings firm for the Zambian government and holds minimum equity in most of the mining companies operating in the country.

[Read 23 times, 1 reads today]

8 COMMENTS

  1. way to go. just be responsible with the tax payers money. if MOPANI, KCM ETC can mine at a profit why cant a zambian owned company fail

  2. the problem is that the board and the managment of zccm is a group of lazy and incompetent people…

    In iraq they will not find oil, in Zambia they’ll only take cash…:o

Comments are closed.

- Advertisement -
Loading...

Latest News

The Universities will start opening from 8th June 2020-Education Minister

The Universities will start opening from 8th June 2020, Minister of Higher Education Brian Mushimba has announced. Dr Mushimba says...

Zambia Chamber of Mines appeals to the Government to diffuse tensions ZESCO and CEC

The Zambia Chamber of Mines has appealed to the Government to diffuse tensions and expedite negotiated resolution of the ZESCO-Copperbelt Energy Corporation impasse For...

Zambian Youths: You Represent The Largest Group of Cowards Zambia has Ever Produced

By Nevers Sekwila Mumba President, New Hope MMD This Message is dedicated to the Zambian Youths between 15 and 35 years old: I want every...

CEC’s Problems Worry Power Dynamos

Power Dynamos admits that uncertainty over principle sponsor, Copperbelt Energy Corporations’ operations, after the expiry of the Bulk Service Agreement with Zesco, has left...

Zambia National Farmers Union Rejects the K110 Maize Buying Price Offered by the Food Reserve Agency

The Zambia National Farmers Union has rejected the K110 maize buying price offered by the Food Reserve Agency for a 50kg bag of maize...

More Articles In This Category

- Advertisement -
[Read 25 times, 1 reads today]