Construction of a toe drain for tailings dam at Munali Nickel Mine, Photo: Mining Technology
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.
Thats sad news! How will they creat jobs if they cant get investors. We are waiting for more jobs and more money in our pockets. Time is running out. You promosed and we voted so pls deliver
Chola
July 20, 2012 at 10:28 pm
Why look around for an outside investor, when the 51% owner of Albidon, Jinchuan Nickel Corporation – the largest in the world – is still there to re-open the mine, and is still supporting the “care and maintenance” costs, and has the finance to continue mining and producing, and buying the offtake.
Max
August 1, 2012 at 8:07 am