ZMDC scouts for investors to process copper

Source: ZMDC scouts for investors to process copper | The Herald February 9, 2017

Tinashe Makichi Business Reporter
The Zimbabwe Mining Development Corporation is scouting for new investors to process copper at Alaska Mine dumps in Mashonaland West. This follows the expiry of Lintmar Mining’s contract. Lintmar is an Australian company. ZMDC acting general manager Dr Farai Karonga told The Herald Business that Lintmar Mining’s contract with the State mining group had expired and indications are that it would not be renewed.

The State mining institution is now looking at engaging investors who have capacity to value add the mineral. “Lintmar Mining has been in contract with us as we had mandated them to dispose of some equipment there and they have also been involved in the processing of dumps at Alaska Mine.

“Lintmar Mining has since stopped operations following the expiry of their contract and I want to put it on record that the contract was not terminated but it lapsed,” said Dr Karonga.

He said negotiations with Lintmar Mining are ongoing but ZMDC would also try to look at whether their interests were best served in the previous contract.

A senior manager at Lintmar Mining who requested anonymity confirmed the lapsing of the tenure of the contract but highlighted that negotiations were ongoing.

However, well placed sources within the mining sector said that Lintmar Mining was involved in rudimentary mining with the company having brought in very little equipment.

Dr Karonga said about four investors have been to the operations to assess the viability of the project. Among the investors are Chinese who have in the past shown significant interest in copper mining in Zimbabwe.

ZMDC is, however, considering investors with capacity to develop the whole copper value chain in the country either as individuals or a syndicate as efforts to revive its copper mining operations gathers momentum.

COMMENTS

WORDPRESS: 3
  • comment-avatar
    Morty Smith 6 months

    What sane person would go into business with the ZANU ZMDC?

  • comment-avatar
    Plonge 6 months

    nothing works in this “Not=rth Korea” of ours. Just repression and propaganda.