ZCCM GOLD COMPANY INJECTS AN INITIAL K45 MILLION TO DEVELOP
KASENSELI GOLD MINE IN MWINILUNGA
27th April 2020, Lusaka, Zambia – ZCCM Gold Company has injected approximately K45 million for the initial phase of the Kasenseli Gold Mine Project in Mwinilunga.
With the granting of the exploration licence by the Ministry of Mines and Minerals Development end of March 2020, ZCCM Gold moved on site and started mobilisation in the first week of April 2020 to undertake detailed exploration that will determine the extent of gold mineralisation in the licence area.
The extensive exploration works which includes geophysics, geochemistry and diamond drilling activities are aimed at delineating the hard-rock (underground) gold deposit in the licence area.
The mining and processing of the alluvial (surface) gold is pending approval of the Environmental Project Brief (EPB) by the Zambia Environmental Management Authority (ZEMA), and the granting of the mining licence by the Ministry of Mines.
The capital injection will also go towards the fencing of the licence area to avoid and prevent any intrusion from outsiders.
Over 40 locals will be employed in the fencing exercise scheduled to start this week. The fence is an additional security measure to the state security that is already on the ground and keeping vigil, patrolling the area to wade off any illegal activities.
Speaking during a courtesy call on Chief Chibwika early April, ZCCM-IH Chief Executive Officer Mr. Mabvuto Chipata indicated that it has taken a bit of time to start the operations at the mine due to a number of statutory and regulatory approvals that are required.
Mr. Chipata said that ZCCM-IH is a listed entity and cannot start any operations without obtaining the necessary and required approvals. He said ZCCM-IH is required to comply with best corporate Governance practices as required by the Lusaka Securities Exchange listing rules, the Mines and Minerals Development Act, the Zambia Public Procurement Authority Act, and the Zambia Environmental Management Authority Act.
Commenting on the coming on board by ZCCM-IH, Chief Chibwika expressed happiness that this will help address the challenges they have been facing in the area with regards to security and the need for development in the area and the district.
He appealed to ZCCM Gold that preference should be given to the local community in terms of jobs and local participation in the supply of various goods and services.
Chief Chibwika said that there is a lot of expectation from the local community with the coming of ZCCM Gold.
ZCCM-IH through ZCCM Gold has been mandated to drive the national gold agenda, working in collaboration with the Ministry of Mines and Minerals Development and other stake holders.
ZCCM Gold is undertaking and overseeing all gold related investments throughout the gold value chain in the country including exploration, mining, processing, refining, marketing, trading and beneficiation in Zambia.
ZCCM Gold is owned 51% by ZCCM-IH and 49% by the Ministry of Finance.
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Issued by:
Loisa Mbatha-Kakoma
Public Relations Manager
ZCCM Investments Holdings Plc
Download the Press release Here: ZCCM-IH Press Release_Kasenseli Gold Mine