the Luanshya concentrator
on LCM’s unique 11km
cable belt]Lusaka, Zambia --- MININGREVIEW.COM – 26 February, 2008 - The Environmental Council of Zambia (ECZ) has given 10 new projects – two of them mining initiatives – the green light from an environmental point of view.
Reporting the new development here yesterday, allAfrica.com quoted ECZ spokesman Justin Mukosa as saying that the ECZ had approved 10 environmental impact assessments, including one for Luanshya Copper Mines – which operates the Baluba Mine and Luanshya concentrator to produce copper and cobalt concentrates. – and a small-scale copper operation to be based in Mufumbwe.
One of Japan’s largest integrated trading and investment companies, Sumitomo has joined Dynatec and Implats by acquiring a 25% interest in the Ambatovy nickel project in Madagascar. Sumitomo has a market capitalisation of US$10.4 billion and this deal puts into place all the partners required to move the project forward.
The Ambatovy feasibility study released by Dynatec in February 2005 indicated the potential for 60,000 tonnes a year of nickel metal and 5,600 tonnes a year of cobalt metal, with cash operating costs expected to be near the bottom of the global cost curve.
copper/cobalt mines in
Zambia, where Caledonia
is launching its Nama
cobalt project.]Toronto, Canada --- MININGREVIEW.COM --- 30 January, 2008 - Caledonia Mining Corporation – a Toronto-listed exploration, development and mining company with a diversified portfolio of exploration projects in Canada, South Africa and Zambia – has signed a cobalt off-take agreement with a large Chinese refiner for the supply of cobalt from its new Zambian operations.
Initial mining has started at the Lupoto resource of the Kalumines coppercobalt project in the Democratic Republic of Congo (DRC).
Kalumines is owned 60% by Teal Exploration & Mining Incorporated – a growth-oriented mineral development and exploration company listed on the Toronto and Johannesburg Stock Exchanges – and 40% by the DRC government operation, La Générale des Carrières et des Mines (Gecamines).
This was the decision by an independent committee established in July to review the company’s strategic options, following an unsolicited take-over bid which has since been withdrawn.
Katanga has signed the one-year loan facility with Glencore International AG (Glencore). Additionally, Katanga and Glencore have agreed to a 10-year off-take contract under which Glencore will buy 100% of annual copper and cobalt production at market terms.
Ongoing drilling at two exploration projects – one in Ghana and the other in the Democratic Republic of Congo (DRC) – have revealed potential for large-scale deposits which could support substantial gold production operations.
This is the latest news from Mwana Africa plc – a pan- African resources company and the first African-owned, African-managed business in this sector to be listed on the AIM. With operations and exploration activities in Zimbabwe, and a broad range of exploration and development projects in the DRC and Ghana, its asset base includes gold, nickel, copper, zinc, cobalt and, more recently, diamonds and oil and gas.