Zambezi Resources’ has received environmental approval from the government of Zambia, a major boost in its plans to develop its wholly owned Kangaluwi copper project, and has seen its share price significantly rise by as much as 237.5% in recent days on the ASX.
Its environmental impact study (EIS) has received formal approval by the Ministry of Lands, Natural Resources and Environmental Protection of Zambia and is a landmark decision for Zambezi, the result of an in-depth and far-reaching consultation process.
“Securing formal approval of the EIS represents a milestone for the Company as we can now take steps and proceed to take the Kangaluwi Copper Project to the development stage and become an emerging producer,” said Mr David Vilensky, Zambezi Chairman.
This milestone paves the way for the development of the Kangaluwi Copper Project, 180km east of the capital Lusaka, which confirms to date a JORC resource of 308,000t of copper metal of which 50,000t is the oxide resource with only 20% of the mining licence exploration targets drilled.
With the EIS approval now granted, Zambezi will be focused on JORC resources definition and feasibility work to move towards development in what is potentially Zambia’s next copper province.