Choose Your Language Of Preference Below
* * * * * * *
The Munali Nickel-Platinum project has been assigned at 100% to Albidon Limited traded at the London Stock Exchange which successfully listed on the Alternative Investment Market (AIM) and ASX with an initial capitalization offer that raised over $15 million dollars for full prospecting purposes almost three years ago.
This deposit is a member of the gabbroid-hosted class of nickel sulphide deposit with a considerable “platinum” component in it. This high grade allows Munali if fully mineralized to be the first platinum mine for the Zambian Enterprise.
It means that as Albidon carries out their mining franchise activities in Munali for Nickel, platinum will also come along. Strong electromagnetic conductor targets in the western portion of the Munali structure have already yield some very positive domino effects.
It is therefore up to the ministry of Mines and Mineral Development to get on this ball as quickly as possible and work with Albidon in order to materialize this venture as well as operationalize it as quickly as possible.
Platinum demand around the world is at an all time high as expectations that global demand for platinum will exceed supply will underpin value going forward, analysts say, even if near-term prices ease as labor tensions recede.
Anglo Platinum is the latest South African producer to slash its 2007 production forecast, with output seen down by some 8%, or around 250,000 ounces, as a result of labor and health and safety concerns.
Last month, Lonmin PLC, the world’s No. 3 producer, said it will defer between 70,000 and 80,000 ounces of platinum sales to 2008, while Aquarius Platinum logged some lost production as a result of a five-day strike in their country of operations.
The sooner this Munali project is mineralized for the benefit of the Zambian Enterprise, the better but with Albidon having operations in as many countries as Botswana, Tanzania, Tunisia and Malawi apart from ours, they may as well end up shaving our prospect as they look at other already operating ventures for maximum profits …
The president (HE Levy P Mwanawasa, SC) recently said that the ministry of Mines and Mineral Development will soon start revolking prospecting licenses under what he called a “use it or lose it policy”; but we are yet to see any such action taken thus far; other serious investors are still out there … thanks a trillion.
Brainwave R Mumba, Sr.
CEO & President – Zambian Chronicle
Copyrights © 2007 Zambian Chronicle. All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom.
Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc.
Copyrights © 2007 Microplus Holdings Int., Inc.