Efforts to recapitalize the defunct Albidon Munali Nickel mine has hit a snag after talks by government and an Australian investor who had shown interest have failed.
The Patriotic Front government had announced in February 2012 that two investors were interested to take over the operations at Munali Nickel mine in Mazabuka, Southern province.
Vice president Dr. Guy Scott revealed in Parliament on Friday. He was responding to UPND Mazabuka central Member of Parliament Garry Nkombo who wanted to know how far government had gone in getting an investor for the mine.
Dr. Scott however assured that his government was working to get an investor for the mine located near Munali Hills in Mazabuka.
Munali Nickel mine last year in November halted production citing cash-flow problems caused by lower global nickel prices as well as operational disruptions at Zambia’s sole nickel miner.