Message Jeu 27 Aoû 2009 21:15

pourrait on avoir une particip sup dans munali ..?

Jinchuan To Take Over Zambia's Munali Nickel Mine In Sep-Govt
Aug 27, 2009 (Dow Jones Commodities News via Comtex) --

By Nicholas Bariyo

China's largest nickel producer, Jinchuan Group Ltd., will take over the Munali Nickel Mine in Zambia in September, a government official told Dow Jones Newswires Thursday.

The company will take a 70% stake in the mine, which suspended output in February due to low global nickel prices, the official said. The takeover talks have been under way since July.

Under the takeover agreement, Jinchuan will rehabilitate the mine, which has since been under care and maintenance, and restore output before the end of the year. The company is also expected to rehire up to 300 former workers, equip the mine with modern mining machinery and continue the resettlement program initiated by the mine's former owner, Albidon Ltd. (ALB.AU), for people affected by the project.

Jinchuan couldn't comment immediately. However, an official at Zambia's state mining body, ZCCM Investment Holdings PLC (ZCCM.ZM), which holds a minority stake in the mine, told Dow Jones Newswires separately that Jinchuan has already drawn up a plan for the resumption of operations at Munali.

According to company data, Munali needs restructuring and a capital injection of up to $28 million before it can resume output.

The mine has the capacity to produce 10,000 metric tons of nickel in concentrate and has a 10-year life span.

-By Nicholas Bariyo, contributing to Dow Jones Newswires; +256 75 262 4615;

(END) Dow Jones Newswires