Mar 24 Jan 2012 10:55
ZCCM-IH seeks strategic equity partners
ZCCM-Investment Holdings (IH) says it is looking for equity partners in the exploration of minerals, oil and gas in four provinces as the firm embarks on mining activities.
The areas are Northern, Eastern, Central and North-Western provinces.
ZCCM-IH mining engineer Moses Chilambe said the firm,which was awarded seven mining licences in Northern, Eastern and Central provinces and four blocks for oil exploration in North-Western Province,wants to engage strategic partners with technical expertise and financial muscle in the mineral and oil fields.
“Undertaking such projects is costly and ZCCM-IH wants to attract strategic partners, either foreign or local, with technical expertise and financial muscle,” he said.
Mr Chilambe said this in an interview in Lusaka recently.
He said ZCCM-IH wants to venture in active mining operations in line with its 2012 -16 strategic plan.
“The 2012 -16 strategic plan will place emphasis on ZCCM-IH having to be actively involved in mining across the country and acquire reasonable shareholding in existing mines,” he said.
Mr Chilambe said the organisation will also work closely with small-scale miners, especially those in the gemstone sector, a move that will enhance their growth.
He said ZCCM-IH will among other things develop a revolving fund but could not disclose how much will be provided to miners as the development is currently at planning stage.