CHILUBI Minerals Limited has discovered copper and gold deposits in Chilubi-Luwingu districts in Northern Province which have the capacity of creating 10,000 jobs for local people.
Chilubi Mineral Limited managing director Mulenga Kafwilo said in Kitwe yesterday that the historical discovery follows chemical analysis the firm conducted on the rock sample that was picked from its Bangweulu Copper Project.
Mr Kafwilo, who is assisted by co-director Victor Chomba, said the robust project will not only create thousands of jobs, but also spur rapid development in various sectors of the economy and improve living standards for the rural people.
He said the area is also rich in cobalt and manganese, and that his company is open to work with suitable foreign investors to exploit the copper and gold deposits to help in transforming the country’s economy.
“This is the first ever discovery of copper and gold by an indigenous company. It is an exciting discovery because it will create a lot of jobs for local people. It will also bring rapid development in that rural part of the country.
“Geologically, Northern Province has a vast mineral resource endowment and merits one of the most important and complex metallotects in Zambia, hosting amazingly, various deposits, containing economic veins, which are still untapped,” Mr Kafwilo said.
He said the copper and gold deposits that have been discovered were similar to Australia’s Olympic Dam deposit in nature with enormous potential to transform the Zambian economy if fully developed.
“Our exploration efforts on the Bangweulu Copper Project was focused on the search for Copperbelt-style sediment-hosted deposit, but instead resulted in this historical discovery of copper-gold deposits,” Mr Kafwilo said.
Chilubi Minerals Limited is an exploration and mining company, currently working out plans to revive an old open cast mine which has been discovered within the project area.