M a r k e t N e w s

Partners sought for Industrial growth & expantion project in Africa

Posted on : Monday, 24th November 2014

 Zambian International Trade & Investment Centre (ZITIC) seeks potential investors and joint venture partners are sought for new mining exploration projects in Zambia.

An exploration licence has already been obtained from the authorities for copper, gold and other minerals in North-Western Province amongst operational mines that include Lumwana, Kansanshi and the Sentinel project by First Quantum Minerals.
Investors are required immediately as the exploration licence is valid for two years from May 2013.
Mining and exploration companies and investors are encouraged to respond by clicking on the big blue response button below.
Opportunity analysis
The licenced area spans 340 square kilometers and is located in Chief Mumena’s Chiefdom, approximately 40km to West Solwezi town along Mutanda-Chavuma road and it lies east of the road to Mwinilunga. It is easily accessed by the two aforementioned roads and several gravel roads.
The location is quite strategic since it is in close proximity to Kansanshi Mine to the east, Lumwana Mine to the north and new Sentinel project by First Quantum Minerals at Kalumbila to the north-west.
The success of the surrounding projects is very good indicator of the prospects of the area for base metals.
Considering the geographic location of the licence area with reference to the productive mining area in the vicinity, the area has great potential for copper mineralisation. The geology of the area supports this as it is underlain by both sedimentary and basement rocks.
At Lumwana to the north, copper mineralisation is hosted in basement rocks while at Kansanshi it is sediment hosted. Interestingly, at the new Sentinel project by First Quantum Minerals (Kalumbila) both scenarios are present. This means that the licence area presents a highly prospective opportunity for base metal discovery.
Regional analysis
Zambia’s endowment of mineral resources is substantial and the mineral wealth includes metals, gemstones, industrial, agricultural, building and energy minerals. Production of metallic minerals dominates the mining sector. Nevertheless, the full potential of these and other known mineral deposits is yet to be realised creating greater exploration opportunities.
Zambia’s mining sector has attracted investment in excess of US$8-billion since the year 2000, creating 74 000 jobs by the year 2012. This is up from 27 000 jobs in the year 2000. It is projected that investments in the mining sector will reach approximately US$15-billion on account of new projects under implementation and/or exploration by the year 2017 - if the international metal prices hold above current levels. These were recorded in the first and second quarter of 2013 (for example copper prices are just about US$7 000 as of Q2 2013).

Source : www.frontiermarketnetwork.com
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